Struggling with the fallout of accounting irregularities uncovered last year, the company on Thursday sold its Patisserie Valerie chain to Irish private equity fund Causeway Capital and Philpotts brand to food retailer A.F. Blakemore, in a deal that rescued dozens of cafes and some 2,000 jobs.

"The remaining assets, which were not included in the three separate transactions, will be realised during the administrations," the company said in a statement.

(Reporting by Tanishaa Nadkar in Bengaluru; editing by Patrick Graham)