New Patisserie Valerie owner closes 14 sites

Causeway Capital, the firm that rescued the Patisserie Valerie chain from administration, is closing 14 smaller outlets with the loss of 100 jobs, according to The Times.

The decision follows a review of the bakery-cafe chain's estate made by the Irish private equity group after it acquired the brand's 96 sites for £5m from administrators at KPMG in February.

KPMG had already closed 71 underperforming sites under the Patisserie Valerie and Druckers brands, with 920 job losses.

The news comes after Causeway Capital invested in a menu revamp and new staff uniforms for the chain.