Almost 1,000 jobs lost as crisis-hit retailer reveals stores that will close

Administrators of Patisserie Holdings have named the 71 outlets that will close, a move which will see the loss of almost 1,000 jobs.

KPMG has been appointed as administrators of Patisserie Holdings, which operates stores under several brands including the historic Birmingham name Druckers Vienna Patisserie.

The Druckers store in Temple Row has now closed

It said that 902 jobs will go at the Birmingham-based business due to the closure of 27 Patisserie Valerie stores, 19 Druckers and 25 Patisserie Valerie concessions. The West Midlands has seen the immediate closure of 13 stores, operating as Druckers, and three concessions inside Debenhams stores.

However, KPMG said it is “business as usual” at the remaining 122 outlets and said it was pleased with the level of interest it had received from potential buyers of the surviving parts of the business.

The cafe chain has been fighting for its survival since October, when it first revealed accounting irregularities that cast serious doubt over its viability.

Last week the company said it had found “thousands of false entries” on the company’s ledgers, which was part of a “very significant manipulation of the balance sheet and profit and loss accounts”.

It has been unable to agree a deal with its lenders, Barclays and HSBC, to extend a standstill of its facilities which had been put in place in the immediate aftermath of the revelations and that expired last Friday.

The company said chairman Luke Johnson “has personally extended an unsecured, interest-free loan of £3m to help ensure that the January wages are paid to all staff working in the ongoing business.”

Only Johnson has remained in place among the senior management team since the accounting scandal came to light. All of its other directors, along with its chief executive and finance director, have departed.

Investigations by the police and regulators are continuing as answers are sought as to what exactly happened and how auditors failed to spot the accounting irregularities.

The group had been valued at £450m when its shares were suspended in October, with the appointment of administrators making them worthless.

A full list of the stores that will close (West Midlands in bold):

Closures programme
The following Patisserie Valerie cafes will close:

Bradford – The Broadway
Brighton – 36 East Street
Bristol – 57 Queens Road
Bury – 26-28 The Haymarket
Chester – 31 Bridge Street
Chippenham – Unit 1b Borough Parade
Cwmbran – 8 The Mall
Derby – 2 Crown Walk
Doncaster – Unit 100, 20 St Sepulchre Gate, Frenchgate Shopping Centre
Glasgow – B12 Glasgow Fort
Glasgow- 18-20 Royal Exchange Square
Gloucester – 4 Southgate Street
Leeds – Unit 2 Ground Floor, 8 St Pauls Street
Liverpool – Unit 1, 35 Whitechapel
London – 37 Brushfield Steet
London – 94 Holland Park Avenue
London- 44 Old Compton Street, Soho
London – 24-26 Turnham Green Terrace
London – 27 Kensington Church Street
London – 15 Bedford Street
London – 80 Long Acre, Covent Garden
London – 215 Brompton Road
Manchester – 2-4 St Ann Street
Newcastle – 141 Grainger Street
Peterborough – 2 Cathedral Square
Salisbury – 24 Butchers Row
Southport – 365 Lord Street

The following concessions will close:
BasildonDebenhams
BeverleyDebenhams
Chelmsford Debenhams
Edinburgh Debenhams
GlasgowDebenhams
Hereford Debenhams
Liverpool Debenhams
London Debenhams, Wandsworth
London Debenhams, Westfield
London Debenhams, Oxford Street
Middlesbrough Debenhams
Newport Debenhams
Oxford Debenhams
Redditch Debenhams
Stevenage Debenhams
Telford Debenhams
Wigan Debenhams
Cheltenham Next
Hounslow Next
Manchester Next
Manchester Next

The following Druckers branches will close:
BanburyDruckers
Birmingham Druckers, Upper Mall West
Birmingham Druckers, 100 Great Western Arcade
Burton Druckers
Cheltenham Druckers
Coventry Druckers
Dudley Druckers
Hanley Druckers
Leamington Spa Druckers
Leeds White RoseDruckers
LeicesterDruckers
Manchester Druckers
Nottingham Druckers
Poole Druckers
Redditch Druckers
Solihull Druckers
Stratford Upon Avon Druckers
Tamworth Druckers
Wolverhampton Druckers

The following Patisserie Valerie motorway outlets will close:
BaldockMotorway, Unit 3 Extra MSA Baldock, A1(M) Junction 10
Beaconsfield Motorway, Unit 2, M40 Junction 2
Cambridge Motorway, A14 (M11) Cambridge, Boxworth
Peterborough Motorway, Great North Road, Haddon