Patisserie Holdings – will it be worth a punt?
The good news for the shareholders and staff of Patisserie Holdings is that a fresh injection of capital, announced late on Friday, appears to have saved the day. We reflect on the news and consider whether it might be worth a punt when it comes off suspension
Patisserie Holdings announced just before the stock market closed on Friday that it needed an immediate cash injection of £20m, without which the business would have been forced to call in the administrators.
Whereas the last reported financial statements revealed cash of £28m, the true picture is one of a Group net debt of £9.8m - a staggering difference! The fraud seems to go back several years, which makes it all the more incredible that something…
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