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

Administrators for the cafe chain revise deficit as
investigations continue in case of ‘potential fraud’

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.

Source: FS – All-News2-Economy
Patisserie Valerie accounts black hole now £94m, says KPMG