The Patisserie Valerie cafe chain has been saved from closure by a management buyout backed by Causeway Capital. Sandwich shops under the Philpotts brand have been bought by AF Blakemore & Son, the family owned company which is the largest operator of Spar convenience stores in the UK. They had been sold for £13m in total. Patisserie Holdings added: "Strong interest has also been received for Baker and Spice and an update will be provided shortly".