Mike Ashley bids to add Patisserie Valerie cakes to UK retail empire

Delicious offer: A sign is reflected in the window of a branch of Patisserie Valerie in London recently. Sports Direct has offered to buy the cafe chain owner out of administration. — Reuters

BENGALURU: British retail tycoon Mike Ashley’s Sports Direct has offered to buy cafe chain owner Patisserie Holdings out of administration to enlarge an empire stretching from department stores and sofa shops to lingerie.

Sports Direct’s statement on Friday gave no details of its offer to buy the owner of cake specialist Patisserie Valerie, which was plunged into crisis in October after it uncovered accounting irregularities.