Sports Direct confirms offer to buy high street chain Patisserie Valerie

The chain collapsed into administration last month
PA
Olivia Tobin8 February 2019

Sports Direct has confirmed it has made an offer to buy struggling high street chain Patisserie Valerie.

The bakery chain collapsed into administration last month and has branches of the store up and down the country.

An offer written on Friday said: “Sports Direct International plc ("the Company" or "the Group") confirms that it has made an offer to acquire the business comprising the trade and assets of Patisserie Holdings plc and its group companies out of administration.”

It will be the latest acquirement for businessman Mike Ashley, who owns Sports Direct.

Mike Ashley has already acquired House of Fraser
PA

The Newcastle United boss also recently bought House of Fraser and Evans Cycles out of administration last year.

Patisserie Valerie had gone into administration after a £40 million accounting fraud brought it to its knees. Since then, it has shut 71 outlets and axed 920 jobs.

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