Bakery chain Le Pain Quotidien is on brink of collapse putting 500 high street jobs at risk 

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Bakery chain Le Pain Quotidien is on brink of collapse putting 500 high street jobs at risk

By Danyal Hussain For Mailonline

Published: | Updated:

Bakery chain Le Pain Quotidien is close to collapse, putting 500 high street jobs at risk.  

The Belgian-owned company could appoint administrators as soon as this week, making it the latest victim of the coronavirus crisis.

There are 26 Le Pain sites in Britain and bosses have launched an emergency sale process, with a deadline of Wednesday for offers. 

The news comes after popular restaurant chain Carluccio’s previously announced it had gone into administration amid the lockdown.

Rent-to-own giant Brighthouse also collapsed in the latest turmoil to hit the high street.

According to Sky News,  Alvarez & Marsal, the professional services firm, is overseeing the auction to buy Le Pain and is likely to be appointed as administrator unless a solvent sale is concluded in the coming days, insiders said on Monday.

One potential bidder said a pre-pack administration was the likeliest outcome.