Mike Ashley pulls bid to add Patisserie Valerie to UK retail empire - source

FILE PHOTO: Mike Ashley, founder and majority shareholder of sportwear retailer Sports Direct, arrives at the company's AGM, at the company's headquarters in Shirebrook, Britain, September 7, 2016. REUTERS/Darren Staples/File Photo - Copyright Darren Staples(Reuters)

By Reuters

Published on 11/02/2019 - 11:04•Updated 25/04/2024 - 23:51

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(Reuters) - British retail tycoon Mike Ashley's Sports Direct has pulled its offer to buy scandal-hit British cafe chain owner Patisserie Holdings after making a bid late last week, a source with knowledge of the matter told Reuters.

British media reported on Sunday that the sports retailer had written to Patisserie administrators KPMG complaining it lacked the information required to continue bidding for the company.