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.