The UK-based cafe chain said a ‘handful’ of stores will not recover sufficiently from the pandemic, but the planned closures will leave the business in a stronger position to weather a tough time for hospitality businesses .
Valerie’s Patisserie said a ‘handful’ of locations will not recover sufficiently from temporary closures in 2020-21 | Photo credit: Pâtisserie Valérie
UK-based bakery and cafe Patisserie Valerie has announced the closure of nine stores after a review of its sites identified by the estate as unlikely to recover from the effects of the pandemic.
The company, backed by Irish private equity firm Causeway Capital, said many of its outlets had recovered well from temporary closures in 2020 and 2021, but “a handful” of locations will not recover enough.
Four stores in England, three in Northern Ireland and two in Scotland will close, leaving Patisserie Valerie with a footprint of 95 across the UK. The majority of outlets in the company’s portfolio are Bakers + Baristas locations following the merger of the two brands in March 2020.
Patisserie Valerie said it remains committed to expanding, but expects growth to be driven by its direct-to-consumer online cake delivery service and nationwide wholesale partnership with the Sainsbury’s supermarket chain.
“While closing stores is never an easy decision to make, we believe it is the right thing to do to ensure the group is in a stronger position to continue to invest and deliver the experience of high quality that our customers rightly expect in these difficult times,” said James Fleming, CEO of Patisserie Valérie.
In June 2022, the directors of UK-based Patisserie Valerie reportedly settled a £200 million ($246 million) lawsuit with accountancy firm Grant Thornton after allegations of negligence arose during its British coffee chain audits.