The Speaker
Thursday, 18 July 2024 – 17:42

Five arrested over Patisserie Valerie scandal

Five people have been arrested over alleged accounting fraud at the Patisserie Valerie chain, according to the Serious Fraud Office.

Patisserie Valerie is a chain of cafes which went into administration in January and was bought for £5m by Causeway Capital.

In a statement, the Serious Fraud Office (SFO) said;

“On Tuesday 18 June, as part of a joint operation with the Hertfordshire, Leicestershire and Metropolitan Police Services, the SFO arrested and questioned five people in connection with the ongoing investigation into individuals associated with Patisserie Holdings.”

The chain’s finance director, Chris Marsh was earlier arrested in October after accounting irregularities were uncovered.

The cafe chain currently has 96 shops still in operation, down from 206 before its collapse. The new owner of the chain, Causeway Capital, an Irish private equity firm said that as far as they were aware, the arrests last week did “not relate to any current employees of Patisserie Valerie”.

On June 24, the chain’s shop in Lincoln closed suddenly amid continuing cost struggles for the business.

Photo Credit: Tony Monblat via Flickr (CC BY-SA 2.0)

Skip to content