Proactive Investors - Run By Investors For Investors

Two Patisserie Valerie cafés shut down by landlords after falling behind with rent

Re-possession notices at the two central London stores have been posted on social media
patisserie valerie cakes
Bosses are believed to be locked in talks with lenders as they try to secure further funding

At least two of Patisserie Valerie’s London cafés have been forced to stop trading after falling behind with their rent.

The two stores affected are in Hammersmith and on Edgeware Road, with social media users posting pictures of the re-possession notices.

READ: Patisserie Valerie finance boss arrested

MP Kings Retail SARL, the owner of the Hammersmith building, said it had been forced to take action for “non-payments of rents”.

A spokesperson added: “We have taken possession of the unit on King Street in question. We are sorry to see the store close but have been forced to act given the tenant was in breach of their lease agreement.”

Parent company Patisserie Holdings PLC (LON:CAKE) declined to comment on the closures.

It is unknown if any other sites have faced similar troubles today, although the company is still taking orders on its website and other restaurants are known to be operating as usual.

READ: Patisserie Valerie left begging for money

Earlier this morning, Patisserie confirmed its chief financial officer Chris Marsh, who was suspended on Wednesday, had been arrested on suspicion of fraud by false representation.

Bosses are believed to be locked in discussions with potential lenders as they try to secure the “immediate injection of capital” needed to keep the business afloat.

A further announcement is due later this afternoon or over the weekend.

View full CAKE profile View Profile

Patisserie Holdings Timeline

Related Articles

US bills and cannabis plant
February 28 2019
CEO Mike Withrow has built AREV into what is now a cannabis and hops company that owns a series of promising businesses
true leaf pet product
March 30 2019
The company says both the cannabis and pet industries represent high-growth industries
Polish pizza
March 28 2019
In 2018, DP Poland’s system sales rose by 24% to 72mln Polish zloty (PLN) from PLN 58mln in 2017, despite a tough second half to the year as aggregators took a bite from its business

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use