Type
Internal restructuring
Country
United Kingdom
Region
Location of affected unit(s)
Sector
Hotel / Restaurants
Accommodation And Food Service Activities
Food And Beverage Service Activities
56.1 - Restaurants and mobile food service activities

100 jobs
Number of planned job losses
Job loss
Announcement Date
12 July 2019
Employment effect (start)
12 July 2019
Foreseen end date
12 July 2019

Description

Cafe chain Patisserie Valerie has announced that it has closed 14 of its sites with immediate effect, resulting in the loss of 100 jobs. The chain was bought out of administration by Causeway Capital in February 2019 following a restructuring which saw 920 jobs lost across 71 branches. The company said it had reviewed the performance of stores over the five month period following the buy-out and had decided to trim the business to focus on the larger and better performing sites. 


Sources

Citation

Eurofound (2019), Patisserie Valerie, Internal restructuring in United Kingdom, factsheet number 98187, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/98187.