Make your money go further for just 25p per day

Patisserie Valerie administrators face accounting chaos

30/01/2019 · Patisserie Holdings PLC (CAKE) 

AIM News

Selection of cakes at Patisserie Valerie shop
Administrators KPMG still have a very muddled picture of the state of the accounts at Patisserie Valerie. Recent news flow implies that it is nearly impossible to ascertain real numbers from several stores over the last few years.

Patisserie Valerie’s accounts are in a state of carnage. Reports suggest that KPMG has only managed to compile two months of reliable financial data since being appointed as the administrator on 16 January. That’s hardly surprisingly considering PwC – which spent two months reviewing the company – couldn’t come to any firm conclusions about the depth of the scandal. But still, this lack of clarity has implications for many parties.

For example, potential buyers, who might be looking to pick up the remains of Patisserie Valerie on the cheap are unlikely to buy the entire portfolio without clear financial information. Instead,…

Sign up and read the full article

Register to continue reading this article.

Get FREE access now

Already a member? Login

Previous article Next article

Have your say

Log in or register to view or add comments.

For access to the top news and insights from the investment world


Become a Champion Investor for as little as £3.20 per report or get a year's worth of money-making analysis for just £90.


More on Patisserie Holdings PLC

Non-executive directors: a lesson in governance

12/08/2019 · Podcasts

As you will hear in this interview, Chris Boxall, from our associates at Fundamental Asset Management,…

Directors come out on top in Patisserie Valerie’s rescue deal

14/02/2019 · News & Insights
New chief executive Stephen Francis could do very nicely after buying a chunk of the company…

More News & Insights

Business breakdown: 5 stories to make you money

07/11/2019 · Amazon · BT · ITV PLC · Marks & Spencer · Vodafone

October 2019: not a single newcomer joins AIM

Zoo Digital: why the valuation still looks bonkers

04/11/2019 · Apple · Netflix · Walt Disney · Zoo Digital