ALL THREE Patisserie Valerie shops in York will remain open, despite the company collapsing into administration.

The future of the branches in Feasegate, Coppergate and at the Designer Outlet were at risk following an announcement on Tuesday that discussions had failed with HSBC and Barclays to extend a standstill agreement on Patisserie Valierie's debts, and more than 3,000 jobs were at risk as 70 cafes and concessions were expected to close within days.

KPMG was appointed as administrator , and said it would continue to trade 121 out of 200 stores, but added that 70 cafes and concessions would close in coming days, resulting in a "significant number" of redundancies.

On Wednesday, KPMG confirmed "the closure of a number of loss-making outlets including 27 Patisserie Valerie stores and 19 Druckers stores", as well as 25 Patisserie Valerie concessions in Debenhams, Next and at motorway service areas around the country, with 920 redundancies.

David Costley-Wood, partner at KPMG and joint administrator, said the remaining 122 outlets will continue to trade while the administrators seek a buyer for the business.

He said: "Since our appointment less than 24 hours ago, we have been pleased with the level of interest we have received in the business, and so remain hopeful of achieving a positive outcome. In the meantime, we can reassure customers that across the remaining 122 stores, it is all but business as usual."