Patisserie Valerie stores, not doing the accounts well enough: Saved by Irish Capital

[arista]

https://e3.365dm.com/18/10/1096x616/skynews-patisserie-valerie_4448560.jpg?bypass-service-worker&20181010060706
Expensive cakes


The company has failed to do the Company books correct
tomorrow is the day it may go into admin


[It was not immediately clear whether stores would be able to remain open for the
time being or what the future would hold for the company's 2,500 staff.]
https://news.sky.com/story/patisserie-valerie-owner-warns-on-future-as-crisis-deepens-11523503

[Vanessa]

Oh, i love their cakes.

[arista]

Oh, i love their cakes.


If only they did their Company books correct
the are short on Cash.
Sadly some workers may not even get paid

[Patisserie Holdings - which had a market value of nearly £450m
before shares were suspended this week - operates from more than 200 stores.]

[Northern Monkey]

Meh,Gi me a Greggs over that pompous tripe any day

[Cal.]

MEss Daniel-X works here!

[Vanessa]

I used to work there, ages ago.

[Cherie]

MEss Daniel-X works here!

Noooooooooooooo

[arista]

MEss Daniel-X works here!



Some stores are still open today
although they know the news media
no Manager at head office has said anything.


Ch5HD news was outside a London store
open with many customers
but staff were afraid to talk on camera.

[arista]

Some good news:

[Patisserie Valerie chair stumps up £20m to avert financial collapse
Hours after its finance director was arrested on suspicion of fraud, the troubled chain's chairman stumps up a £20m rescue fund.]

https://e3.365dm.com/18/01/750x563/skynews-patisserie-valerie_4196032.jpg?bypass-service-worker&20180101144108


https://news.sky.com/story/patisserie-valerie-in-20m-cash-call-to-avert-financial-collapse-11524476


[Hertfordshire Police said: "A 44-year old man from St Albans has been arrested
on suspicion of fraud by false representation.
"He has been released under investigation."
The Serious Fraud Office (SFO) later added:
The SFO confirms that its director has opened
a criminal investigation into an individual.]


[Outstanding liabilities including a £1.1m tax bill owed to HM Revenue & Customs.]
PAY UP

[Crimson Dynamo]

never heard of this shop

[arista]

never heard of this shop


There is one in Aberdeen
after 2006 they expanded all over he UK

https://www.patisserie-valerie.co.uk/aberdeen-cafe.aspx
The Scotland store

[arista]

No Bank could sort out the accounts
A Great place they took lots of Cash.


https://news.sky.com/story/patisserie-valerie-collapses-into-administration-11614744


https://e3.365dm.com/19/01/1096x616/skynews-patisserie-valerie_4552408.jpg?bypass-service-worker&20190121060331

[Marsh.]

Danni X took all their profits with him to Boots?

[hijaxers]

Well i've never seen a Pat Val shop in my life so its no loss to me, don't do cake shops anyway.

Gimme a burger and sod 2 million calorie cakes :joker:

[Livia]

I'm with LT and Hijaxers... Never consciously noticed one of these shops and definitely never been in one.

[Daniel-X]

Danni X took all their profits with him to Boots?

They evicted all the staff from my old shop this morning and changed the locks :skull:

Do feel really sad for all my ex-colleagues who have lost their jobs but it was brewing for a while :(

[arista]

They evicted all the staff from my old shop this morning and changed the locks :skull:

Do feel really sad for all my ex-colleagues who have lost their jobs but it was brewing for a while :(



Yes its a shame
the bosses never got all their Cash
Books sorted

[arista]

There one last chance
with the Fat Boss of Sports Direct.

https://news.sky.com/story/patisserie-valerie-sports-direct-offers-to-buy-collapsed-bakery-chain-11631863


[Patisserie Valerie: Sports Direct offers
to buy collapsed bakery chain
Founder of Sports Direct Mike Ashley
is hoping to add to his expanding
high street empire by making a offer to rescue the chain.]

[arista]

They rejected Sports Direct
and took this Irish Group

[Patisserie Valerie has been bought
out of administration after
alleged fraud tipped it to collapse last month.
Irish-based Causeway Capital Partners
said it had bought a "heritage brand" through
its deal with administrators - supported by members
of the chain's management team.
The new owners said they hoped to keep all 96 sites open.]


https://news.sky.com/story/patisserie-valerie-saved-by-private-equity-buyout-from-administration-11637006