Administrators to stricken cake chain Patisserie Valerie have sold off one of the firm’s sister brands Baker & Spice to the Department of Coffee & Social Affairs for £2.5 million.
Cake chain Patisserie Valerie has been bought out of administration by an Irish private equity firm, safeguarding nearly 2,000 jobs.
Patisserie Valerie has attracted queries from a number of bidders interested in buying the troubled business, administrators have said.
The under-fire accountants of collapsed cake chain Patisserie Valerie has admitted that auditors do not look for fraud.
An Aberdeen branch of a cake chain looks set to remain open as Patisserie Valerie enters administration.