Bidding heats up for Patisserie Valerie

Patisserie Valerie has attracted interest from numerous bidders, including offers for the entire 206-site estate and other offers for parts of it, according to administrators.

The troubled cake chain went into administration last month, after a £40m black hole was found in the accounts, and KPMG were appointed administrators.

Commenting on the interest Patisserie Valerie has received from prospective buyers, David Costley-Wood, partner at KPMG and joint administrator, said: “We are encouraged by the scope of offers received from trade and finance buyers for all and for parts of the business.

'We will now be taking a number of these offers forward, and hope to be able to make progress in short order.

“We’d like to thank employees, suppliers, creditors and also Patisserie Valerie’s loyal customers for their invaluable support in helping us to continue to trade the business over the last two weeks.”