Feb 8, 2019

Mike Ashley’s Sports Direct offers to buy Patisserie Valerie

Sports Direct, the retail company owned by billionaire Mike Ashley, announced that it was offering to acquire beleaguered café chain Patisserie Valerie on Friday. Patisserie Valerie crashed into administration at the end of January after talks with banks failed to save it from bankruptcy following an investigation into long-term fraud of its accounts. In a statement released by Sports Direct late on Friday, the company said it had made an offer "To acquire the business comprising the trade and assets of Patisserie Holdings plc and its group companies out of administration." KPMG, who are acting as Patisserie Valerie's administrators, said it had no prior knowledge of the offer. Get alerts on Patisserie Holdings PLC when a new story is published.

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