Patisserie Valerie to close nine sites
After the closures, the group’s VP Retail Limited subsidiary will cease to trade, although Patisserie Valerie said the closures will not affect the rest of the group’s business
Patisserie Valerie Group has announced it will close nine patisseries following a review to identify locations in the group’s patisserie estate which have not recovered as well as expected.
Consequently, sites in Belfast Donegal Square, Belfast Castle Lane, Belfast Forestside, Victoria Station, Windsor, Dundee, Glasgow Central, Eastbourne and Exeter are set to close down, as the group said it does not feel they will recover sufficiently.
After the closures, the group’s VP Retail Limited subsidiary will cease to trade, although Patisserie Valerie said the closures will not affect the rest of the group’s business which will continue as usual.
Patisserie Valerie has faced a period of “unprecedented challenges” in recent times. Many of its patisseries have now “recovered well”. The group said it continues to grow, particularly via its direct to consumer online nationwide cake delivery service and national wholesale partnership with J Sainsbury.
James Fleming, Patisserie Valerie Group CEO, said: “Whilst closing stores is never an easy decision to take, we are confident this is the right thing to do to ensure the group is in a stronger position to continue investing and delivering the high quality experience our customers rightly expect in these challenging times.”
Patisserie Valerie is being advised on this matter by chartered accountants, James Cowper Kreston.
