High street bakery Patisserie Valerie has temporarily suspended trading and the company\u2019s chief financial officer following a discovery of \u201cpotentially fraudulent\u201d accounts.\r\n\r\n\r\n\r\nAt 7.30am on 10 October, the company suspended its shares as it awaited clarification on its financial position. Patisserie\u2019s directors were notified of \u201caccounting irregularities\u201d and therefore a potential \u201cmaterial misstatement\u201d of its accounts. According to Sky News, a \u201cblack hole\u201d in excess of \u00a320m was discovered.\r\n\r\nPatisserie said this had impacted its cash position and could lead to \u201ca material change in its overall financial position\u201d. It will conduct a full investigation with its legal and professional advisers to determine its true financial position.\r\n\r\nIn the meantime Chris Marsh, the chief financial officer, has been suspended from his role.\r\n\r\nLuke Johnson, chairman, said: "We are all deeply concerned about this news and the potential impact on the business. We are determined to understand the full details of what has happened and will communicate these to investors and stakeholders as soon as possible."