Finance executive of crisis-hit Patisserie Valerie arrested

The financial executive of a stricken Patisserie Valerie has been arrested by police, a association has told a batch exchange.

Chris Marsh, who assimilated a association in 2006, was arrested on Thursday night and has been bailed.

Hertfordshire police, who declined to name a individual, pronounced a 44-year-old male from St Albans, where Marsh lives, had been arrested on guess of rascal by fake representation.

The Serious Fraud Office has reliable it has non-stop a rapist review into an particular though pronounced it could give no serve information.

Marsh was dangling on Tuesday night when a 200-strong cafeteria and cake sequence suggested “significant and potentially fraudulent” accounting irregularities. The business is accepted to have detected a hole in a accounts of some-more than £20m.

On Thursday, Patisserie Valerie, that has scarcely 3,000 staff, pronounced it would be forced to tighten if it did not get an “an evident injection of capital”. The sequence was incompetent to contend if a staff would get paid this week.

Advisers from PricewaterhouseCoopers in Birmingham are accepted to be station by to hoop an administration routine if a association collapses. Accountants from PwC are carrying out a debate hearing of a group’s accounts as it tries to consider a scale of a accounting black hole.

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The accountancy watchdog, a Financial Reporting Council, pronounced on Friday it was “looking into this matter delicately and will give full care to serve movement as some-more contribution turn available”. The City watchdog, a Financial Conduct Authority, is also approaching to inspect a case.

Patisserie Valerie is chaired by a businessman Luke Johnson, who binds a 37% stake. Thecompany was valued during £450m on a batch sell before a predicament emerged.

The company’s directors have certified it faces a winding-up sequence from HMRC over a £1m delinquent taxation bill. The sequence was filed on 14 Sep though a directors were unknowingly of a existence until progressing this week. The petition is approaching to be listened in justice on 31 October.

Marsh sole share options in July, generating a £700,000 profit.

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