Patisserie Valerie accounts black hole now £94m, says KPMG

Patisserie Valerie accounts black hole now £94m, says KPMG
 

Forensic accountants now say the black hole in the accounts of fraud hit cafe chain Patisserie Valerie was as big as £94m – more than twice the size of previous estimates.
Patisserie Valerie, a former stock market darling, plunged into administration in January after it was unable to secure new bank finance following the discovery of “potentially fraudulent” accounting irregularities.
The progress report by administrators KPMG, which was published on Friday, said analysis by a team of forensic accountants had arrived at the conclusion the accounts had been overstated by approximately £94m.... read more

 
15 March 2019 in Business, Views: 82
Source: Guardian
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