Patisserie Valerie faces winding up order from HMRC

The financial problems at cake and café chain Patisserie Valerie have deepened as its parent company is now subject to a winding up order brought by HMRC over £1.14m of unpaid tax

Following the shock news on 10 October 2018 of the discovery of ‘significant, potentially fraudulent, accounting irregularities’, Patisserie Holdings has issued a second regulatory statement.

This said: ‘The board of directors of the company has today become aware that a winding up petition in respect of Stonebeach Ltd was filed at The High Court of Justice, Companies Court on 14 September 2018. Stonebeach is the company's principal trading subsidiary.

‘The petition relates to sums due to HMRC of approximately £1.14m with a hearing date listed for 31 October 2018.’

The statement went on to note: ‘The company and its advisors are in communication with HMRC with the objective of addressing the petition.’

Patisserie Holdings has said it ‘continues to engage with its professional advisers to understand better the financial position of the group and will make further announcements in due course’.

Report by Pat Sweet

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