Luke Johnson, the founder and chairman of Patisserie Valerie, has pledged up to £20 million in new loans in order to save the company from collapse and saving 2,800 jobs.
Mr Johnson told the Sunday Times ‘I’ve never had an experience like this in my careers and I hope never to repeat it. It’s certainly been the most harrowing week of my life’.
He also said that he felt as though he was ‘in a nightmare that I’d wake up from’ but that he felt a ‘moral obligation’; to save the company.
‘We have, I would argue, preserved a lot of jobs and a good business. When companies go into administration, there’s massive value destruction. Preserving a company, keeping it whole, matters.’ He added.
