Patisserie Valerie facts for kids
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| Pâtisserie, café | |
| Genre | Café chain and bakery |
| Fate | Management buyout |
| Founded | 1926, Soho, London |
| Founder | Madame Valerie |
| Headquarters | Birmingham, England, UK |
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Number of locations
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16 (2024) |
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Area served
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United Kingdom |
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Key people
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James Fleming, Chief Executive Officer |
| Parent | Causeway Capital |
Patisserie Valerie is a well-known cake business in the United Kingdom. It makes delicious handmade birthday cakes, pastries, and other fancy treats. You can order these cakes online for delivery across the UK, or buy them at one of their local shops. Patisserie Valerie also sells its products to other stores and food businesses.
The company started in 1926 in the Soho area of London. Since February 2019, an investment company called Causeway Capital has owned most of the business.
Contents
History of Patisserie Valerie
How Patisserie Valerie Started (1926)
Patisserie Valerie was founded in 1926 by Esther van Gyseghem and her husband Theophile (Theo) Vermeirsch. They opened their first shop in Soho, London. Esther became known as Madame Valerie.
Theo passed away in 1947. Esther continued to run the business by herself until she retired in 1965. The original shop was damaged during World War II. After the war, it reopened nearby on Old Compton Street.
Growing the Business (1987-2014)
In 1987, the Scalzo brothers bought Patisserie Valerie. They helped the business grow to nine locations, including shops in Piccadilly and Kensington.
Later, in 2006, a company called Risk Capital Partners, led by Luke Johnson, bought a large part of the company. At that time, Patisserie Valerie had eight shops. It grew very quickly, reaching 192 shops by May 2017. In 2017, it even opened its first shop in Ireland.
Financial Challenges and Changes
In October 2018, Patisserie Valerie faced serious financial problems. It was discovered that the company's money records might have been incorrect. This meant there was a big difference between the money they thought they had and the money they actually had.
The company needed money quickly to keep going. Luke Johnson, the company chairman, helped by lending money. This plan helped prevent the company from closing down completely and saved many jobs. However, it was reported that two large, unrecorded overdrafts (money owed to banks) were found.
In January 2019, the company announced it had gone into "administration." This means it needed help from experts to manage its finances because of the big money problems. This led to 70 of its nearly 200 shops closing right away, and about 900 people lost their jobs.
An investigation was launched into the company's financial records. An accounting firm that had checked Patisserie Valerie's accounts was later fined because they had missed important warning signs.
New Ownership and Future Plans
In February 2019, a company called Causeway Capital Partners bought Patisserie Valerie. They paid £5 million for almost 100 cafés, saving jobs for about two-thirds of the workers. The new managing director, Paolo Peretti, planned to spend money to update some cafés and open new ones.
In March 2020, Patisserie Valerie joined with another business called Bakers & Baristas, which was also owned by Causeway Capital. The shops continued to operate under their own names. By September 2022, about 95 Patisserie Valerie and Bakers & Baristas shops were open.
Recent Updates (2020-Present)
Since 2020, Patisserie Valerie has made many changes. In May 2020, they improved their online ordering system. They also launched a nationwide online shop where customers can order cakes directly.
Their online cake selection has grown to include wedding cakes, vegan cakes, and even coffee subscriptions. In 2024, Patisserie Valerie opened a shop on Amazon to sell some of its cakes.
You can also find a selection of Patisserie Valerie's cakes in many Sainsbury's supermarkets. This partnership started in 2021 and has expanded to other food service businesses.
In 2023, Patisserie Valerie updated its shop in Cribbs Causeway. It now has a fresh look with new colors and designs that reflect the brand's history from the 1920s.
