Patisserie Holdings a ‘good old fashioned fraud’

Chris Boxall, Fundamental Asset Management, says that the issues around the suspension of Patisserie Holdings, which owns the Patisserie Valerie chain, is not likely to be a ‘raid on the business’, rather a ‘good old fashioned fraud’. The question, Boxall says, is now what the business worth is.
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[@mikagreenwald5659]

It would appear that the person, or persons, perpetrating the alleged fraud felt they had nothing to fear in terms of being found out by the company's auditors. That strikes me as the biggest indictment of the current company auditing system that one could imagine.

[@Adrian-vy7he]

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[@davidyoung8516]

I wonder what the auditors were up to!

[@katielewin2227]

A 10 minute chat with anyone remotely senior in this business would have revealed what a house of cards it actually was