Shareholders in the company that owns Patisserie Valerie are increasingly concerned that the café chain could be sold cheaply or even put into administration after it warned that its accounting problems ran deeper than initially thought.
Patisserie Holdings is in urgent talks with its lenders HSBC and Barclays to extend a financing agreement beyond its scheduled expiry on Friday and has retained KPMG to “review all options available” to recover and preserve value.
And The Times reports that the chain suffered another setback yesterday when Lee Ginsberg, its deputy chairman and former head of its audit committee, resigned with immediate effect.
Click here for the full FT article (£)
Click here for the full Times article (£)
