Cake chain Patisserie Valerie has been bought out of administration by an Irish private equity firm, safeguarding nearly 2,000 jobs.
Patisserie Valerie has attracted queries from a number of bidders interested in buying the troubled business, administrators have said.
Cake chain Patisserie Valerie has collapsed into administration, putting more than 3,000 jobs at risk.
The deputy chairman of Patisserie Valerie has resigned a day after the group revealed the extent of an accounting scandal which pushed it close to collapse last year.
Patisserie Valerie has unveiled the “devastating” extent of the irregularities in its accounting, which included thousands of false entries into the company’s ledgers.
Another director has left the troubled parent of Patisserie Valerie, marking the latest change to the board in the wake of its brush with collapse last year.
Shares in Brighton Pier Group, the leisure company chaired by Patisserie Valerie chief Luke Johnson, have plummeted on the news that profits will be lower than expected.