U.K. cake baker Patisserie Holdings Plc suspended its chief financial officer after uncovering “significant, and potentially fraudulent, accounting irregularities” and a demand for more than a million pounds in back taxes.
The company, part-owned by entrepreneur Luke Johnson and known for the Patisserie Valerie chain, is conducting an investigation to determine where its finances stand. The shares have been suspended in the meantime, it said in a statement Wednesday.
U.K. tax authorities in September filed a court order seeking 1.14 million pounds ($1.5 million) from Stonebeach Ltd., an operating subsidiary of Patisserie Holdings, the company said in a separate statement. ...
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