Rebecca Long Bailey responds to Patisserie Valerie falling into administration
Rebecca Long Bailey, Shadow Business Secretary, responding to news that Patisserie Valerie has fallen into administration, said:
“News that Patisserie Valerie has collapsed into insolvency as a result of fraud will worry workers and their families.
“That such a successful business can be pushed into administration by the alleged malpractice of one boardroom member should raise questions within Government about the full range of options available to companies with similar problems.
“The option of employees being given the opportunity to buy out the company has never been on the cards. Labour is looking at possible changes to the law and the financing necessary to support employees considering the option of taking over companies when faced with similar situations.”