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

Administrators for cafe chain revise deficit as ‘potential fraud’ investigations continue

The black hole in the accounts of the troubled cafe chain Patisserie Valerie was as much as £94m, more than twice previous estimates, according to forensic accountants.

The company plunged into administration in January after it was unable to secure new bank finance following the discovery of “potentially fraudulent” accounting irregularities.

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from The Guardian https://ift.tt/2W24tn8