October 31, 2018 / 6:09 PM / 15 days ago

UPDATE 1-Restaurateur David Scott says has no plans to buy Patisserie Valerie

(Adds media report, background)

Oct 31 (Reuters) - David Scott, who used to run Druckers Vienna Patisserie, said on Wednesday he had no intention to make an offer or buy shares in Patisserie Valerie, the British cafe chain hit by an accounting scandal.

The Times reported here on Sunday that the veteran restaurateur had declared an intention to make a takeover bid for the British cafe chain with backing from a family-run private equity firm.

“Despite the media reports, I have not appointed nor do I intend to appoint a company to liaise with shareholders on my behalf and I have no interest in making an offer for or acquiring shares in Patisserie Valerie or any related companies,” Scott said in a statement.

The cafe chain plunged into turmoil this month after accounting irregularities at its owner, Patisserie Holdings, and the arrest of its finance boss. It was rescued by a 20 million pound loan from chairman, the entrepreneur Luke Johnson.

Patisserie Valerie traces its roots back to 1926 when Belgian-born Madame Valerie opened a shop in London’s Soho district.

Scott’s Druckers Vienna Patisserie, a Birmingham-based group of cafes, was sold to Patisserie Valerie in 2007.

Patisserie’s shares remain suspended on the London Stock Exchange. (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Anil D’Silva)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below