It seems it would be the Finance Director of troubled bakery chain, Chris Marsh, of the UK based Patisserie Valerie. He has just been arrested by police and released on bail, who are investigating “significant, and potentially fraudulent, accounting irregularities” and “a potential material mis-statement of the company’s accounts”.
After analysing its financial situation the company said it would be forced to cease trading if an immediate injection of capital was not made.
In its half-year report, made earlier this year, the group, chaired by serial entrepreneur Luke Johnson reported year on year pre-tax profit growth of 14.2% for the six months to 31 March 2018, up from £9.7m the previous year to £11.1m.
The group has 206 stores across five brands: Patisserie Valerie, Druckers – Vienna Patisserie, Philpotts, Baker & Spice and Flour Power City and employs 2500 employees who are now wondering what their next move will be.
That’s one hell of an accounting black hole. I thought clever accountants could make money disappear without trace; my accountant can — MINE!
With some £20.000.000 missing, it would appear that someone has indeed been licking the bowl after the mix was made!