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Patisserie Valerie plans outlined by new owners following administration

Patisserie Valerie

The plans for the future of Patisserie Valerie have been laid out by the chain’s new owners.

Causeway Capital, the Irish firm that saved the patisserie brand from administration in February, has said that it plans to invest in the chain’s 96 remaining stores while also attempting to boost online sales.

The plans include providing staff with new updated uniforms, introducing a new logo and revamping the current menu, with these changes scheduled to come into effect on July 3rd.

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It has also been revealed that the cost-cutting measures the firm was taking before entering administration included replacing butter with margarine in its products.

After an accounting black hole of £94 million was discovered, the chain faced severe financial difficulties.

Suppliers were reportedly being left unpaid, ovens had been broken for several months and not replaced and there were leaks in the bakery ceiling.

But Matt Scaife, a Causeway Capital partner has promised to “take every single recipe apart and put it back together” as he aims to get the brand back on track.

Scaife said: “We are delighted with the progress we have made. We found a lot of problems but we also inherited some great staff who really care about what they do. There’s been a lot of hard work but it’s very much back on track.”

Tags : Causeway CapitalmenuPatisserie Valerie
Patrick Cremona

The author Patrick Cremona

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