Patis­serie Va­lerie fights for sur­vival

Yorkshire Post - Business - - BUSINESS / NEWS -

Cake chain Patis­serie Va­lerie is fac­ing a fight for sur­vival af­ter re­ceiv­ing a wind­ing up pe­ti­tion over un­paid taxes and po­ten­tially fraud­u­lent ac­count­ing ir­reg­u­lar­i­ties.

Par­ent firm Patis­serie Hold­ings said it has re­ceived a wind­ing up pe­ti­tion for its prin­ci­pal trad­ing unit Stonebeach. It re­lates to £1.14m owed to HMRC and was filed at the High Court of Jus­tice, Com­pa­nies Court.

The wind­ing up hear­ing is sched­uled for Oc­to­ber 31 and Patis­serie Hold­ings said it is in com­mu­ni­ca­tion with HMRC as it scram­bles to “un­der­stand bet­ter the fi­nan­cial po­si­tion of the group”.

It caps a dra­matic day for the firm, which ear­lier saw its shares sus­pended fol­low­ing the dis­cov­ery of an ac­count­ing black hole.

Patis­serie Hold­ings said it has been no­ti­fied of “sig­nif­i­cant, and po­ten­tially fraud­u­lent, ac­count­ing ir­reg­u­lar­i­ties” and a po­ten­tial ma­te­rial mis­state­ment of its ac­counts.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.