Patisserie Valerie black hole grows to £94m

Patisserie Valerie black hole grows to £94m
 

The accounting black hole at Patisserie Valerie has swelled to £94m, more than double a previous estimate, according to a new report by its administrators.
After it fell into administration in January, the cafe chain was found to have overstated its cash position by £30m and failed to disclose overdrafts of nearly £10m.
KPMG's latest report says the company falsely claimed to have £54m in cash.
The majority of Patisserie Valerie has been sold to a private equity firm.
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15 March 2019 in Business, Views: 78
Source: BBC
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