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Administrators of Patisserie Holdings confirm sale of Baker & Spice

Administrators of Patisserie Holdings confirm sale

The administrators confirm that four Baker & Spice outlets in London have been acquired by Department of Coffee and Social Affairs, the independent coffee shop chain.

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The joint administrators of Patisserie Holdings plc and its subsidiaries confirm that four Baker & Spice outlets in London have been acquired by Department of Coffee and Social Affairs, the independent coffee shop chain.

The four Baker & Spice outlets acquired comprise those in Belgravia, Chelsea, Maida Vale and in Selfridges on Oxford Street. A total of 68 employees have transferred to Department of Coffee and Social Affairs.

Regrettably, the Baker & Spice store in Oxford does not form part of the transaction and will close with immediate effect, with the loss of 10 jobs.

Dave Costley-Wood, partner at KPMG and joint administrator, said: “Following the earlier sales today of Patisserie Valerie and Philpotts, we are pleased to conclude this deal which sees the highly-regarded London Baker & Spice stores transfer to Department of Coffee and Social Affairs.”

Matthew Gill, deputy chairman, Department of Coffee and Social Affairs, said: “We're very excited to now own Baker and Spice, it's a tremendous brand and the team are looking to build upon its success.”

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Katy Broomhead                             Simon Wilson
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E: katy.broomhead@kpmg.co.uk    E: simon.wilson@kpmg.co.uk

KPMG Press Office: 020 7694 8773

About KPMG in the UK

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 16,300 partners and staff. The UK firm recorded a revenue of £2.338 billion in the year ended 30 September 2018. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 154 countries and has 200,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.

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