Friday, April 26, 2019
Home Business Landlords close two patisserie Valerie pages amid the funding crisis

Landlords close two patisserie Valerie pages amid the funding crisis

Two Patisserie Valerie stores in London closed on Friday while the chain's parent company was on the brink of collapse.

The landlords missed the leases at the Hammersmith and Edgware Road sites, citing a breach of contract.

This comes after Patisserie Holdings, which also owns other brands such as Philpotts, Baker & Spice and Flour Power City, warned that it could not continue without an immediate capital injection.

The company said earlier this week that it had found a big black hole in its accounts.

Patisserie Finance Director Chris Marsh has since been arrested for suspected fraud.

The windows of two London patisserie Valerie stores posted news on Friday, with one saying the closure was due to non-payment of rents.

A spokesman for MP Kings Retail SARL, the landlord of the Hammersmith office, said: "We have taken possession of the King Street in question, we are sorry the store is closed, but we were forced to act as the renter has violated his lease. "

Passersby posted pictures of the foreclosures on Twitter.

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