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/

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

StockMarketWire.com
Embattled cake retailer Patisserie Holdings confirmed had survived an attempt by HMRC to wind up the company.

A winding up petition against principal trading subsidiary Stonebeach was dismissed by the High Court of Justice, Business and Property Courts, the company confirmed.

Patisserie also said it was seeking to understand why the grant of options to executives relating to 2015 and 2016 havd not been appropriately disclosed and accounted for in its financial statements.

The company has been pushed to the brink of insolvency by possible fraud that it is currently investigating. It has suspended finance director Chris Marsh who was recently arrested by police and released without bail.

What a mess this is turning out to be.

It certainly doesn't look very appetising.

Talk of a buy-out in the Times.

Times article refuted as follows:
"DAVID SCOTT RESPONDS TO MEDIA REPORTS REGARDING PATISSERIE VALERIE

Following recent media reports, David Scott, former shareholder and chief executive of Druckers, is keen to highlight that he has no intention to make an offer or otherwise acquire shares in Patisserie Valerie, the company that bought Druckers in 2007.

Commenting, David Scott said; "Despite the media reports, I have not appointed nor do I intend to appoint a company to liaise with shareholders on my behalf and I have no interest in making an offer for or acquiring shares in Patisserie Valerie or any related companies."

What a disgrace this is turning out to be - end of the road could be close. On the face of it a straightforward, easy to understand business with a large and highly regarded main shareholder, debt free, growing, profitable and cash generative. Ticked a lot of boxes for me, but thank God for scuttlebutt. A visit to their fairly unimpressive outlet in High Wycombe kept me out, a very dodgy bullet missed!

high wycombe doesn't have anything to commend it in the first place!

Traffic nightmare, but the home of Ercol - although I guess your stuff is all from Henredon!

Patisserie Valerie goes into administration
Patisserie Holdings, the parent company of cafe chain Patisserie Valerie, has crashed into administration after several days of failed last-ditch talks with its banks.

The decision was a “direct result of the significant fraud”, the company said, which was first revealed in October last year.

Right bloody fraud this company....there must be some pretty pissed off investors out there....feel sorry for them....

Prison for the directors and no parole.

Who were the auditors ?

Some AAT students ?

Same people who were auditing CLLN probably!

Grant Thornton

Also down to the banks , HSBC and Barclays who MUST monitor current accounts.

Lol Harry

Cheers dc , know a few people there I'll see if I can find out what there excuse is next week.

How on earth under current regs can you audit a company? impossible