Patisserie Share Discussion Threads

[rcturner2] 25/1/2019 12:44

Back in October. When the share price flatlines.

[chinahere] 25/1/2019 12:42

When did the shares get suspended?

[pugugly] 25/1/2019 12:21

sik.. Nice find -

[sikhthetech] 25/1/2019 12:13

Masuren,

Interesting article...

and Stonebeach had a Charge Satisfied on 11th Oct 2018...
Guess who the persons entitled were...

coincidence!!!

[tradejunkie2] 25/1/2019 12:12

You put money in AIM it's like going to the horses lol

[sandy133] 25/1/2019 09:35

Very odd things coming out about the company.One report was that they were trying to claim back corporation tax as the company had actually made a loss of £60 million over the last 6 years as opposed to a profit of £70 million.
These are extraordinary figures.So many parties missed this, the Auditor,Non executive directors and all the highly paid fund managers that know their investee companies like the back of their hand.
I would think that unless KPMG throw in the towel due to lack of funds that the Directors will have to return all the monies raised form share sales.I suspect that Mr May will also have to return most of the salary received as clearly he did not earn a penny.

[masurenguy] 25/1/2019 09:22

Why didn't Luke Johnson investigate this issue over 2 years ago. I think that the shareholders in this company are entitled to full explanations from Johnson and May why this was not followed up and investigated at the time. These two most senior directors and have both made a lot of money out of this company since it was floated on the stock market while all of the other shareholders have been completely wiped out !
No position.

Taxman had café chain forgery fears
Concerns over Patisserie Valerie raised in 2016

HM Revenue & Customs raised concerns with Patisserie Valerie’s parent company that some of its invoices and cheques had been forged more than two years before the café chain revealed an alleged fraud that led to its collapse, The Times has learnt. The tax authority sent letters to Patisserie Holdings in 2016 questioning the authenticity of documents submitted as part of its tax return.

The correspondence between HMRC and the company raises more questions about why the gap in the accounts was not revealed before October 2018. HMRC is believed to have begun sending queries about the possible forgery in 2016. Its questioning carried on into last year, when it issued a winding-up petition for £1.14m against Stonebeach, one of Patisserie Holdings’ subsidiaries. The discovery of the winding-up petition, of which the board said it had been unaware, led to a surprise announcement to the stock market, when the company revealed it had discovered “significant, potentially fraudulent accounting irregularities”.

Complete article:

[lefrene] 25/1/2019 09:16

It will be interesting to see just how much they do get for the rump of the business. The lenders will be keen to get back their loans, and all the lawyers and advisors will be keen to get their fees. So what does a prime position coffee/cake shop fetch these days? £200k x 130 outlets £26 million? I suspect rather less, maybe £15 mil?

[montyhedge] 24/1/2019 19:02

I bet LJ cherry picks the best sites, makes a offer, pick them up cheap.

[masurenguy] 24/1/2019 13:07

He would need to lose a bit of weight first !

[ladeside] 24/1/2019 09:36

Surely Mike Ashley has to be in the running ????

[nobilis] 23/1/2019 23:58

Can someone update Johnsons wiki page please



Need to update urgently as its misleading


His Net worth needs to come down a lot for a start.

He is a FAILURE

[lefrene] 23/1/2019 23:35

One person who must have known that the figures were unlikely will be Mr Scott who is looking to pick up the chain. "I know the industry inside out" say's Mr Scott. Well KPMG seem to have identified and shut the no-hopers for him, so he already knows that the remainder are at least trading at break even. I do wonder if he and Mr Johnson ever dine together?

[tradejunkie2] 23/1/2019 23:23

Luke Johnson, the multimillionaire chairman of collapsed cafe chain Patisserie Valerie, has extracted more than £40m from the business since the cafe group floated on the stock market less than five years ago.

Johnson, who bought Patisserie Valerie in 2006, sold nearly £23m of shares when the company floated in 2014 and nearly £13m a year later and has also collected dividends and a £60,000 a year salary. There is no suggestion that the entrepreneur was involved in any fraudulent activity.

He has loaned the company a net £13m in recent months, most of which is unlikely to be paid back.

Former chief executive Paul May took out nearly £11m in share sales, pay and dividends, including more than £2.6m in profits on sales of share options last year, according to Guardian research. Former finance director Chris Marsh made more than £4.4m including profits of £2m on share options in 2018.

Marsh was arrested by Hertfordshire police and bailed in October. He resigned that month.

[lefrene] 23/1/2019 23:17

Rather conveniently a rescuer is at hand!

[diku] 23/1/2019 22:40

Wonder what kind of due diligence they did to pump £10mln?...was the £10mln lying around doing nothing!!...

[sum493] 23/1/2019 21:40

those last investors who injected 10 million+ must be feeling pretty awful! Not that personal investors aren't feeling awful - I would be furious if something like this happened to my holdings

[kemche] 23/1/2019 21:05

I am led to believe that it is standard practice to check the clearance date of cheques after the year end. The auditor also has a responsibility to report on any post balance sheet events. Were any of those checks performed or was the entire audit performed via analytical review?

[konradpuss] 23/1/2019 20:48

I think you will find Luke Johnson (that man again!) was once a director of Metro Bank.

[owenski] 23/1/2019 20:38

Does Mr Kipling cook exceedingly good books though?

[still waiting] 23/1/2019 20:31

diku23 Jan '19 - 18:04 - 2753 of 2755
0 0 1
But who are the experts?.

They could always bring in Mr Kipling.

[eeza] 23/1/2019 19:38

People who use their OWN money to invest.
A lot of small shareholders know infinitely more about the shares they invest in, than the II's who are gambling with OPM.
Unfortunately it is the large II's who have the voting clout at AGMs etcand will nod almost anything through.
Give 50% of the voting power to small s/hlders and there will be a marked improvement.

[diku] 23/1/2019 18:04

But who are the experts?...