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Patisserie Valerie CFO resigns amid fraud investigation

The chief financial officer of crisis-hit cafe chain Patisserie Valerie has announced his resignation with immediate effect.

On 9 October, Chris Marsh was suspended by the company after its directors discovered “accounting irregularities” and investigated potentially fraudulent activity. The company found that it had an unpaid tax bill of £1.14m and had received a winding up petition from HMRC.

Marsh was arrested on suspicion of fraud by false representation and later released on bail. The Serious Fraud Office did not name the individual, but confirmed it arrested a 44-year-old man and opened an investigation.

The company released a statement which said: “Patisserie Holdings plc announces that following the suspension of Chris Marsh on 9 October 2018, the company has now accepted his resignation as the company’s finance director with immediate effect, while reserving its position in respect of any potential claims it may have against him.”

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