22nd Oct, 2018

Patisserie Valerie, with a cafe in Redditch, served with taxman petition

Ross Crawford 11th Oct, 2018

PATISSERIE Valerie, which has an outlet in Debenhams in the Kingfisher Shopping Centre and also operates Druckers, has been served with a winding-up petition by Her Majesty’s Revenue and Customs.

Shares in the Birmingham-based company were suspended on Wednesday after the cake and coffee retailer revealed ‘significant and potentially fraudulent’ accounting irregularities.

A winding-up petition was served on its principle trading subsidiary, Stonebeach, last month with HMRC chasing £1.14million it is owed,

Reports have suggested there is a £20million hole in the company’s accounts.

According to their most recent accounts the company showed pre-tax profits of £20.1m on revenues of £114.2m.

Pattiserie Valerie has more than 200 outlets across the country employing about 2,000 staff.

The first store was opened in 1926 by a Belgian woman, Madam Valerie.

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