Patisserie Valerie to close nine cafes amid ‘unprecedented challenges’

Patisserie Valerie to close nine cafes amid ‘unprecedented challenges’
Patisserie Valerie to close nine cafes amid ‘unprecedented challenges’

Patisserie Valérie must close nine cafes that have not recovered “as well as expected” following the pandemic.

The coffee and bakery business, which is backed by Irish private equity firm Causeway Capital, said it had “faced a period of unprecedented challenges in recent times”.

It announced it would now close nine patisseries following a review of its store base.

Patisserie Valerie has announced that it will be closing its Belfast Donegal Square, Belfast Castle Lane, Belfast Forestside, Victoria Station London, Windsor, Dundee, Glasgow Central, Eastbourne and Exeter locations.

Cakes from Valerie Patisserie displayed in a shop window in central London (Nick Ansell/PA)

“We have decided to close nine patisseries as we do not believe they will recover sufficiently” amid renewed cost pressures, the company said.

The group added that its subsidiary VP Retail Limited will cease operations after the closures.

Patisserie Valerie is being advised on the process by accounting firm James Cowper Kreston and she stressed the closures will not impact the rest of its operations.

Managing Director James Fleming said: “While closing stores is never an easy decision to make, we believe it is the right thing to do to ensure the group is in a stronger position to continue to invest and deliver the high-quality experience that our customers rightly expect. in these difficult times. »

The company would not comment on the potential impact of job closures at sites.

It comes a day after BrewDog announced it would close six pubs due to ‘spiraling’ energy costs, which have made some venues financially unviable.

. Patisserie Valerie will close nine cafes middle challenges without previous

. Patisserie Valerie close cafes unprecedented challenges

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