Patisserie Holdings has revealed that high street bakery chain Patisserie Valerie faces a winding up petition after it discovered a £1.14m unpaid tax bill.
HMRC has filed the petition against its parent company Stonebeach Limited on 14 September and was later advertised in the legal Gazette on 5 October. However, the company was only made aware of it this afternoon (Wednesday 10 October).
In a statement, Patisserie Holdings said: “The company and its advisors are in communication with HMRC with the objective of addressing the petition. The company continues to engage with its professional advisers to understand better the financial position of the group and will make further announcements in due course.”
This update follows the company’s decision to suspend trading after its directors spotted irregularities in its accounts leading it to believe the filings were “potentially fraudulent”. Patisserie Valerie also suspended its CFO Chris Marsh as it investigated its overall financial position.