Home Business News Patisserie Valerie rescue deal

Patisserie Valerie rescue deal

by Purvai Dua
12th Oct 18 3:17 pm

Just hours after a criminal investigation was launched into potential fraudulent activity at Patisserie Valerie, its executive chairman has come up with a rescue plan.

Patisserie Holdings has a net debt of about £9.8m. Luke Johnson has reportedly agreed to a £10m interest-free three-year loan, while the group also proposes to raise another £15m by selling new shares.

All this will help the group to “continue trading in its current form for the foreseeable future”. Read the full statement here:

This development comes as a major relief to its 2500 workers.

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