Glasgow Patisserie Valerie to close amid cost pressures
Patisserie Valerie is to close a Glasgow cafe as it has not recovered “as well as expected” after the Covid-19 pandemic.
The Glasgow cafe closure is one of two in Scotland, which also includes a branch in Dundee.
The coffee and pastries business, which is backed by Irish private equity firm Causeway Capital, said it has “faced a period of unprecedented challenges in recent times”.
Due to this it will now shut nine branches across the UK following a review of its stores.
The Glasgow store that’s closing is the one at Glasgow Central.
The firm said: “We have decided to close nine patisseries as we now do not feel they will recover sufficiently” amid further cost pressures.
The group added that its VP Retail Limited subsidiary will cease to trade following the closures.
Patisserie Valerie is being advised over the process by accountancy firm James Cowper Kreston and it stressed that the closures will not impact the rest of its operations.
Chief executive James Fleming said: “Whilst closing stores is never an easy decision to take, we are confident this is the right thing to do to ensure the group is in a stronger position to continue investing and delivering the high quality experience our customers rightly expect in these challenging times.”
The company would not comment on the potential impact of the closures to jobs at the impacted sites.