Feb 8, 2019
Sports Direct's Mike Ashley bids for Patisserie Valerie cafe chain
Mike Ashley's Sports Direct has made a bid for cafe chain Patisserie Valerie, which collapsed into administration last month. A Sports Direct statement late on Friday confirmed an offer had been made, but gave no further details. Administrator KPMG closed 70 Patisserie Valerie outlets, but kept 121 open in the hope of finding a buyer. Last October, Patisserie Valerie, where entrepreneur Luke Johnson is the biggest shareholder, uncovered "Significant, and potentially fraudulent, accounting irregularities". Mr Ashley, who also owns English Premier League football club Newcastle United, made his name building budget chain Sports Direct into Britain's biggest sporting goods retailer.
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