The new owner of Patisserie Valerie has unveiled plans to turn around the café chain, which was sold at a knockdown price after a £94 million fraud tipped it into insolvency.
Causeway Capital, an Irish private equity firm that paid £5 million for the chain in February, said that its first move would be to reverse cost-cutting measures made by its old management, including a decision to remove butter from its pastry recipe.
The new owner of Patisserie Valerie has unveiled plans to turn around the café chain, which was sold at a knockdown price after a £94 million fraud tipped it into insolvency.
Causeway Capital, an Irish private equity firm that paid £5 million for the chain in February, said that its first move would be to reverse cost-cutting measures made by its old management, including a decision to remove butter from its pastry recipe.
Click here to read the full Times article (£)
