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Patisserie Holdings Plc (CAKE)     

dreamcatcher - 30 Jan 2015 18:00



Patisserie Holdings plc is a leading UK branded café and casual dining group offering cakes, pastries, snacks, meals and hot and cold drinks from 138 stores and Flour Power City Bakery in the UK.

It currently operates under five differentiated brands – Patisserie Valerie, Druckers – Vienna Patisserie, Philpotts, Baker & Spice and Flour Power City, offering broad customer appeal, flexibility and outstanding roll-out potential.

The Company operates a vertically integrated business model, with all products made in-house at seven bakeries and delivered fresh daily. Products are sold primarily through stores and also a growing online channel.

The Group's executive management team, led by Luke Johnson (Executive Chairman), Paul May (Chief Executive Officer) and Chris Marsh (Finance Director), has overseen a period of consistent growth from eight stores in 2006 to more than 130 today. The first Patisserie Valerie café was opened on Frith Street in London’s Soho district in 1926 by Belgian-born Madame Valerie, whose vision was to introduce continental patisserie products to the UK. During the Second World War, the Frith Street premises were destroyed by bombing and Madame Valerie subsequently re-established a new Patisserie Valerie café nearby on Old Compton Street, where her legacy continues to this day.

Risk Capital Partners, the London-based private equity firm, co-founded in 2001 by Luke Johnson and Ben Redmond, backed the acquisition of Patisserie Valerie in 2006. At the time it had eight sites in Central London. The company subsequently acquired Druckers - Vienna Patisserie in 2007, Baker & Spice in 2009, Flour Power City Bakery in 2013 and Philpotts in 2014.

(CAKE:AIM)

http://investors.patisserieholdings.co.uk/

Chart.aspx?Provider=EODIntra&Code=CAKE&SChart.aspx?Provider=EODIntra&Code=CAKE&S

2517GEORGE - 27 Jan 2019 11:39 - 103 of 108

The EU doesn't get audited and that's going to crash

Stan - 27 Jan 2019 12:40 - 104 of 108

You are using the wrong thread old fruit.

Dil - 28 Jan 2019 13:58 - 105 of 108

I heard they had bank accounts that weren't shown to auditors. Probably with massive credit lines that had been used.

That's why the banks pulled the plug. Maybe they were secured on the assets.

CC - 28 Jan 2019 14:10 - 106 of 108

I doubt there are any assets. Shops which they rent selling cakes which have a shelf life of a few days.

Maybe they have some cake manufacturing machines but there value will be almost zero in a liquidation. That's if they made the cakes themselves.

What's the value of a few second hand coffee makers? again not very much.

Stan - 29 Jan 2019 08:03 - 107 of 108

Patisserie Valerie sales were in secret decline for at least three years before the discovery of the accounting black hole that triggered its collapse, The Daily Telegraph can reveal. Documents containing the stricken cafe chain's finances show revenues from "un-loved" established stores were falling even as the management team under executive chairman Luke Johnson pursued an "ambitious roll-out plan".

Stan - 11 Feb 2019 10:22 - 108 of 108

Mike Ashley's Sports Direct has pulled out of a bid for collapsed café chain Patisserie Valerie after just two days, accusing its administrators of not providing enough access to its finances. Chris Wootton, the company's deputy finance chief, wrote to the KPMG partner handling the administration yesterday to say it was withdrawing a bid of more than £15m after failing to gain "access to a data room, any financial information or meetings with management".

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