In a shocking announcement today, Patisserie Valerie said it could shut down without an immediate injection of cash. The group employs more than 2,500 workers.
The announcement comes just hours after the 92-year-old cake chain admitted a ยฃ1.14m unpaid tax bill amid a ยฃ20m ‘accounting black hole’. The company has also suspended its finance director Chris Marsh.
The board,ย which is led by entrepreneur Luke Johnson, said there was a โmaterial shortfall between the reported financial status and the current financial status of the businessโ and it would need new funds to continue trading.
The board is โassessing all options available to the business to keep it tradingโ, Patisserie Holdings added.
Leave a Comment