Patisserie Valerie has been rescued by Irish private equity firm Causeway Capital Partners after an accounting scandal pushed the UK cake baker into insolvency.
Causeway Capital struck a deal for the assets and business of the cafe chain’s parent Patisserie Holdings, according to a statement. Causeway Capital and the bakery chain’s new management, led by chief executive Steve Francis, funded the transaction.
The cafe group’s collapse in late January after more...
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