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CAKE Patisserie

429.50
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Patisserie LSE:CAKE London Ordinary Share GB00BM4NV504 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 429.50 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Patisserie Share Discussion Threads

Showing 3401 to 3422 of 3425 messages
Chat Pages: 137  136  135  134  133  132  131  130  129  128  127  126  Older
DateSubjectAuthorDiscuss
24/12/2023
20:38
Lock up that Johnson conjob
Johnson took 40million out

onjohn
10/10/2023
11:33
Coming to the boil soon.
District Judge Daniel Sternberg sent the case to be heard at Southwark Crown Court on November 7.

pugugly
14/9/2023
18:49
No flies on old LJ!

I still wonder how profitable Gails is?

I think he is just working for the landlords and looking for a mug to buy him out.

konradpuss
14/9/2023
18:31
Erm wasn't LJ supplying the cafe's from his own bakery factory? But then you don't get the moniker 'Teflon' for nowt.
lefrene
14/9/2023
18:16
Lets hope they throw the Proceeds of Crime act at the four and reimburse shareholders
onjohn
13/9/2023
18:11
Pug, old 'Teflon Luke' is bright. He really should have spotted the fraud in my humble.

Now don't get me on the auditors.

konradpuss
13/9/2023
17:18
More details from Daily Mail - Fully agree with 3318 - Appears to have taken eye off ball - but not involved in cooking the books.
pugugly
13/9/2023
17:00
Four years!

The only good think is I bet they have lost much sleep over that time.

konradpuss
13/9/2023
15:05
LJ comes out of this looking like an utter fool. Employs a complete set of wrong uns for starters, and seemingly has no grasp of financial realities to know that something was not quite right.
meijiman
13/9/2023
14:43
Thanks bigbigdave, Teflon Luke not mentioned then! The debacle does illustrate the incompetence of accounting firms.
lefrene
13/9/2023
14:27
Patisserie Valerie: Four people face fraud charges over bakery chain's collapse
The suspects are due to appear in court on 10 October for the charges to be formally put them, five years after alleged fraudulent activity at the company was first raised.

bigbigdave
21/7/2022
15:41
I notice the Pat Val in Norwich has just closed down, not that it has anything to do with Luke or CAKE any more. I guess the format doesn't compete very well with all the other coffee and cake options available in Norwich.
lefrene
29/6/2022
15:30
I would get rid of your accountant immediately - he/she/it should be working for you, not you for the accountant.

'Cool hand Luke' will one day be out of Teflon. I cannot believe he is thinking of selling Gail's at some astronomic figure when the business makes naff all.

More fool the mug/mugs that buy it.

konradpuss
29/6/2022
15:18
Yes Accountants. Mine insisted I came to see him in his office as he had something far too important to say to me, that he couldn't tell me over the phone. So I lost half a day, and rather worried made the trip to see him. After much preamble and pursing of lips and fingertips pressed in the classic praying position, with great sagacity he told me, "Now you see you really must pay your staff monthly (I had built up an industrial worker employee agency), monthly, you would save so much money".

I was stunned, "Is that what you have dragged me over here to tell me?" said I in a somewhat annoyed and incredulous tone. I quickly informed the fine gentleman that my workforce would vanish overnight if I tried to put them on monthly pay. Their lives were such that their maximum time horizon is about 10 days, they trust absolutely no one, and they barely get from week to week. They don't have expense accounts, free cars and a nice inherited home to cushion them from the realities of the world. I demanded and got a 10% reduction in his next bill. There would be no charge for his education!

Yes there is one heck of a gap in many accountants grasp of the actualities of the real world.

My biggest regret is that I didn't short the hell out of CAKE as soon as I realised that they were pretending to be taking £200 an hour every trading hour (9 to 5) at every outlet, 6 days a week. I sat in about 5 or 6 of their outlets across the West Midlands and realised they were getting probably at very best one third of that.

But it looks like Teflon Luke is going to come up smelling of roses. The article is on the front page of Sunday's Telegraph business section. Essentially the auditors asleep at the wheel, and sending the children out to check on a couple of central London outlets as 'due diligence'!

lefrene
29/6/2022
14:09
At some stage the Liquidator should have to explain why they did not get enough back to make even a token payment to shareholders.
This is not likely to be detailed until the criminal enquiries are finished.

I do agree that with hindsight it is apparent that the company could not have been trading as well as it claimed.Polly Peck got into the FTSE while claiming to sell 4 times the annual production of oranges in Cyprus.accountants very rarely get out of the office and kick the tyres.I suspect a week spent in Cyprus would have blown the whole story.

sandy133
29/6/2022
13:10
I notice an article in last Sunday's Telegraph, Teflon Luke might be in for up to a £20 million share of the compensation from the auditors!!!

Erm his separate cake factory business was supplying the shops, it's impossible for him not to know that the shops were selling nothing like the declared turnover.

Never was a business so blatantly awry. Very simple arithmetic indicated that to meet the declared annual turnover, every single shop had to be taking £200 an hour 6 days a week. Walking into any shop in the country (except perhaps one or two in the West End of London), would instantly tell you that the turnover figure was an outright lie.

lefrene
16/5/2022
11:49
These investigations are kept well hidden.
The fact that they have not said "nothing doing" after this length of time would likely indicate something will happen.
My personal experience in this sort of fraud is that suddenly after 3 years there are charges.in my case there were 3 telephone calls.
Firstly; blogs has been arrested

Secondly; blogs has been charged

Thirdly: the jury have found them guilty.

All these calls came within 10 minutes of the action taking place.

sandy133
16/5/2022
11:42
SFO will be playing a long drip, drip game asking questions of a variety of folks and totting up the discrepancies. Such tactics as getting a non participant to disclose documents in the belief it would be of assistance and subsequently finding the blue touch paper is burning ever brighter.

Slowness is frustrating when a review of participants prior experience shows they could reasonably be expected to have spotted the gaping hole. Even walking past the shops and then becoming aware of the company valuation left one speechless.

Perhaps there are things that may see the light of day which will give a crystal clear picture of the characters involved and allow the cranialy competent to correctly understand who knew what, when and the actions they did (not) take as a result of possessing, or being able to demonstrate plausible deniability in terms of not possessing, that knowledge.

As ever for investors, the biggest problem is then to determine if one admires their commercial astuteness or determines that residence behind a set of bars would benefit corporate governance standards.

ccnp
16/5/2022
11:02
Thanks DGriffin100, I know these things take time but approaching 4 years is surely taking the biscuit! Anyway I suppose all we can do is wait and hope the guilty party(s) get a custodial sentence, though I suspect probably not.
daveme
04/5/2022
14:09
@daveme Here is a nice summary of the whole case

hxxps://www.eqs.com/compliance-blog/case-study-patisserie-valerie

It went pear-shaped on October 10th 2018, so a little less than 3.5 years ago.

I have no information on why this is taking so long to come to court. At the core, there should have been £24 million in the bank, only there wasn't. Since that part is pretty simple, I can only speculate that the method of removing the cash, and discovering who was involved, is taking some time.

dgriffin100
03/5/2022
16:38
Interesting article:-



Does anyone know of the progress of the fraud case?

daveme
28/9/2021
10:25
Johnson has been badly let down by incompetent underlings. To recompense him for all this bother he must be immediately gonged up IMO. Step forward Lord Johnson of Cake.
meijiman
Chat Pages: 137  136  135  134  133  132  131  130  129  128  127  126  Older

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