Creditors to Patisserie Valerie have appointed a new administrator to succeed KPMG, raising the prospect of legal claims against the failed UK bakery chain’s auditor Grant Thornton. Luke Johnson, the former chairman of Patisserie Valerie, and HM Revenue & Customs, are among the creditors to have picked FRP Advisory, a restructuring firm that will investigate whether it can pursue legal claims against Grant Thornton, which audited the bakery group for 12 years but did not spot a suspected manipulation of its accounts.
Creditors to Patisserie Valerie have appointed a new administrator to succeed KPMG, raising the prospect of legal claims against the failed UK bakery chain’s auditor Grant Thornton. Luke Johnson, the former chairman of Patisserie Valerie, and HM Revenue & Customs, are among the creditors to have picked FRP Advisory, a restructuring firm that will investigate whether it can pursue legal claims against Grant Thornton, which audited the bakery group for 12 years but did not spot a suspected manipulation of its accounts.
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