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Patisserie Valerie suspends shares

10 October 2018

Sweet treats maker, Patisserie Valerie, has suspended its shares today after discovering what is believed to be a multimillion-pound black hole in the accounts.

In a statement ahead of trading it said the directors of the company had been informed about “significant, and potentially fraudulent, accounting irregularities and therefore a potential material misstatement of the company’s accounts.”

The statement went on to say that this will have a significant impact on the company’s cash position and may lead to a material change in its overall financial position.

A full investigation is now underway to see what the true financial position is. And in the meantime Chris Martin, the chief financial officer, has been suspended from his role.

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