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Wed 10th Oct 2018 - Patisserie Holdings reveals winding up petition over unpaid £1.14m tax bill
Patisserie Holdings reveals winding up petition over unpaid £1.14m tax bill: The owner of Patisserie Valerie has revealed a winding up petition relating to an unpaid tax bill of £1.14m. Patisserie Holdings suspended its shares on AIM this morning (Wednesday, 10 October) after the discovery of "potentially fraudulent, accounting irregularities". The company stated: "Patisserie Holdings announces, further to the company's announcement made earlier today, the board of directors of the company has today become aware a winding up petition in respect of Stonebeach was filed at The High Court of Justice, Companies Court, on 14 September 2018. Stonebeach is the company's principal trading subsidiary. The petition relates to sums due to HM Revenue & Customs (HMRC) of about £1.14m with a hearing date listed for 31 October 2018. The petition was advertised in the London Gazette on 5 October 2018. 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." The Luke Johnson-chaired company revealed this morning it had become aware of "significant, and potentially fraudulent, accounting irregularities and therefore a potential material mis-statement of the company's accounts". It added at the time: "This has significantly impacted the company's cash position and may lead to a material change in its overall financial position. As a result the company has requested its shares be suspended from trading on AIM while it conducts a full investigation with its legal and professional advisers into its true financial position. In the meantime Chris Marsh, the chief financial officer, has been suspended from his role."

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