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Re: House of Fraser in trouble...
Quote:
Quote from The Sun:
Cake chain Patisserie Valerie has collapsed into administration, putting more than 3,000 jobs at risk.
The firm said discussions with its lenders HSBC and Barclays to extend a standstill agreement on its debts had failed, leaving it with no option but to appoint KPMG as administrator.
KPMG said that it would continue to trade 121 out of 200 stores, but added that 70 cafes and concessions would close over the next few days, resulting in a "significant number" of redundancies.
Blair Nimmo, head of restructuring at KPMG and joint administrator, added: "Our intention is to continue trading across the profitable stores, as collectively the brands have a strong presence on the high street and have proven very popular with consumers.
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With the current craze for baking they must have something wrong there.
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History is much like an endless waltz: The three beats of war, peace and revolution continue on forever.
However history will change with my coronation - Mariemaia Khushrenada
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