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The owner of Patisserie Valerie has said the chain needs "an immediate injection of capital" to continue trading in its current form. The stark statement to investors comes after the firm uncovered "significant, and potentially fraudulent, accounting irregularities". It also belatedly discovered HMRC filed a winding-up petition against one of its principal subsidiaries a month ago and is seeking £1.14m in taxes. The firm has more than 2,500 staff. The company announced earlier this week that finance director Chris Marsh had been suspended. PATISSERIE HOLDINGS. - It has five brands: Patisserie Valerie, Druckers - Vienna Patisserie, Philpotts, Baker & Spice and Flour Power City. - Now, there... Full story

11 October