Inactive Instrument

Patisserie Holdings PLC

GB00BM4NV504

Patisserie : Valerie owner appoints KPMG as administrator

January 22, 2019 at 12:25 pm EST

(Reuters) - British cafe chain owner Patisserie Holdings said on Tuesday it appointed audit firm KPMG as administrator after it was unable to renew its bank facilities.

The troubled company also said it did not have sufficient funding.

The company, which was hit by an accounting scandal, said that its Chairman Luke Johnson extended an unsecured, interest-free loan to ensure that the staff was paid wages for January.

(Reporting by Tanishaa Nadkar in Bengaluru; Editing by Shailesh Kuber)

Latest news about Patisserie Holdings PLC

Patisserie : Valerie rescued by Irish fund Causeway	19-02-15	RE
Patisserie : sells Baker & Spice business	19-02-15	RE
Patisserie : Valerie rescued by management with help from Causeway Capital - FT	19-02-14	RE
Patisserie : Britain's Mike Ashley deserts short-lived bid for Patisserie Valerie	19-02-11	RE
Patisserie : Sports Direct drops Patisserie Valerie offer - FT	19-02-10	RE
Patisserie : Mike Ashley bids to add Patisserie Valerie cakes to UK retail empire	19-02-08	RE
Patisserie : Scandal-hit Patisserie Valerie owner calls in administrators	19-01-22	RE
Patisserie : Valerie owner appoints KPMG as administrator	19-01-22	RE
Grant Thornton hit record $5.45 billion in revenues last year	19-01-08	RE
Patisserie : Accounting fraud hit Patisserie to replace auditor	18-12-20	RE
Patisserie : Valerie owner appoints Nick Perrin as interim CFO	18-12-05	RE
Patisserie : UK watchdog investigates Grant Thornton's Patisserie audit	18-11-21	RE
Patisserie : Accounting firm Grant Thornton appoints new UK chief successor	18-11-19	RE
Patisserie : gets more time to agree on loan with main lenders	18-11-19	RE
Patisserie : Valerie owner's suspended finance director resigns	18-10-26	RE
Patisserie : winding-up petition dismissed, co to probe share issues	18-10-24	RE
Patisserie : Valerie shareholder meeting called, shares to remain suspended	18-10-16	RE
Patisserie : Accounting firm Grant Thornton's UK chief to step down	18-10-15	RE
Patisserie : UK's scandal-hit Patisserie Valerie saved by 20 million pound loan from chairman	18-10-12	RE
FTSE : fails to rebound in worst week since February	18-10-12	RE
Patisserie : Valerie seeks 20 million pounds to stay afloat	18-10-12	RE
Patisserie : UK anti-fraud agency investigates individual over Patisserie Valerie scandal	18-10-12	RE
Patisserie : UK accounting watchdog says looking at Patisserie Valerie	18-10-12	RE
Patisserie : Valerie owner warns of collapse without urgent capital injection	18-10-11	RE
Patisserie : Valerie finds accounting errors, suspends CFO	18-10-10	RE

Patisserie Holdings PLC is a United Kingdom-based cafe and casual dining company. The Company offers cakes, pastries, snacks, meals, and hot and cold drinks across the United Kingdom. The Company's segments include Patisserie Valerie, Druckers, Baker & Spice, Flour Power and Philpotts. It offers products, such as coffee, dairy, fruit, packaging, cocoa and wheat items. It offers cakes in various categories, including celebration cakes, gluten free cakes and wedding cakes. The Company operates under various brands, including Patisserie Valerie, Druckers-Vienna Patisserie, Philpotts, Baker & Spice and Flour Power City Bakery. The Company offers a range of cakes, such as Gluten Free Flapjack, Gluten Free Chocolate Chip Muffin, Cortina, Chocolate Box, Carrot Cake, Cheesecake, Blackforest, Exotic Fruit Tart, Pecan Tart, Citron Tart, Choc Mousse, Mixed Berry Mousse, Raspberry Tart, Madame Valerie Slice, Mille-Feuille, Gluten Free Chocolate Brownie and Gluten Free Marble Cake.

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Restaurants & Bars

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Sector Cafés

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Patisserie Holdings PLC

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GB00BM4NV504

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Patisserie : Valerie owner appoints KPMG as administrator

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