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Patisserie Valerie has sold its Baker & Spice chain to the Department of Coffee & Social Affairs for £2.5m.
The Department of Coffee & Social Affairs will add five Baker & Spice cafes to its list of 20 existing UK branches. The company also owns several cafes in the US.
The disposal of Baker & Spice comes days after Patisserie Valerie was bought by an Irish investment firm, Causeway Capital Partners.
Patisserie Valerie collapsed into administration last month after uncovering a £40m hole in its accounts due to “significant, and potentially fraudulent, accounting irregularities”.
CCP purchased the bakery chain out of administration, saving almost 2,000 jobs in the process.
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The rescue deal included 96 of the cake maker’s sites, but did not include 27 other outlets belonging to the Philpotts and Baker & Spice brands. Philpotts has been sold in a separate deal.
Sports Direct said it had not been allowed access to a data room, any financial information or meetings with management, leaving the company “at a serious disadvantage as a bidder”.
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