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/

pat val is actually very good

anyway, report out that company may have to go into admin

RNS further trading update .

saying what????

you lazy bugger ......

Without an immediate injection of capital, the Directors are of the view that that is no scope for the business to continue trading in its current form.

As a consequence, the Directors and the Company's professional advisers are assessing all options available to the business to keep it trading and will update the market in due course.

lol

Lazy bugger my arse , it was to bring it to attention , but nobody seemed interested , i've other things to do as well .

it takes less than half a minute to c+p
if that isn't being lazy, what is?

I agree lazy :-))

i have concluded he was too engaged massaging his prostate :-)

There I was thinking you were talking about yourself ----- too idle to go look for the RNS

They rent floor space in Debenhams, or did. Going to leave a hole for them.

It was basically...way overvalued £460 million quid....just crazy...probably no freeholds...just a good turn over....but ….spare a thought for the guy that owns 37 % of that company and discovers bankruptcy with fraud....you are looking at a straight £200 million pound loss....ok....with the administrator he will get something back...something.....it is time in the UK that there is more check on these blinkin' companies that are stockmarket darlings one day and then all the funds have disappeared to some south pacific island bank with no trace and nobody knows anything....and the directors were lying all the time about the actual financial state of the company....we've seen this too many times now !....

i think you are unkind
luke johnson who owns 37% cannot have known, and as far as i understand it, everyone is mystified as to how all this came about under the radar

is this yet another case of leading auditors being led by the nose and then denying any culpability at all?

RNS---------CFO arrested.

No cynic I will not post it, look it up yourself, lazy git. ha!ha!

Cake by the Ocean.

For the moment he has saved the company....he had to otherwise he would have ended up with nothing !....but the company has to explain where £28 million has got to and they are 10 million in debt that will be covered by the new capital....you are looking at no more than 100p when the stock comes back on the markets !....

at least the guy stuck his hand deep in his own pocket, unlike some like jamie oliver

StockMarketWire.com
Patisserie Holdings said Monday it would raise £15m through the placing of shares after a probe into the company's financial irregularities revealed the need for an 'immediate cash injection' of no less than £20m to keep the company in business.

The company proposed to raise approximately £15m through the issue of approximately 30m new at a price of 50p a share.

The company also expected to enter into a new £10m loan agreement with CEO Luke Johnson later on Monday. Johnson would also commit a further bridging loan facility of up to £10m to provide the company with the ability to fund immediate outstanding liabilities, the company said.

The net proceeds of the placing and funds would be used to fund the group's immediate outstanding liabilities, including amounts owed to HM Revenue & Customs, trade creditors, general working capital purposes and committed capital expenditure, Patisserie said.

The company estimated based on the current run rate information available that full-year annual revenue and earnings (EBITDA), before exceptional one off costs could be approximately £120m and £12m, respectively.

The Directors emphasised, however, that the amounts were based on the 'limited' work performed to date, and could not be verified until there had been further work conducted including the re-audit of the company's financial statements and the preparation of the 30 Sept. year end audit.

'At this stage, the Directors cannot predict the outcome of those investigations with any degree of certainty,' the company said.

The company's shares would remain suspended from trading.

Er, maybe with 37% invested Luke should be looking a tad closer at his investments.... AND why doesn't he need to make a bid at that % -?.... I thought 30% was the threshold... maybe not if this outlet on AIM - is it? But I would expect this to me main market, at such valuations....
The new shares may stuff existing shareholders . . .

Its AIM.

Leading investors in Patisserie Valerie want Luke Johnson, chairman of the troubled café chain, to give up control of an internal investigation into a £40 million hole in its accounts over concerns that the review is not sufficiently independent. Invesco, a top ten shareholder in the Aim-listed company, has told Mr Johnson and the board of Patisserie Holdings, the parent company, to hand over the investigation to a law firm or an independent investigation firm during talks last week, according to people familiar with the matter. - The Times