Patisserie Valerie owner’s suspended finance head arrested, released on bail

A general view of a Patisserie Valerie shop on October 11, 2018 in London, England. The company is usually facing a 'winding up' order after financial irregularities were identified. (Photo by Dan Kitwood/Getty Images)

Dan Kitwood/Getty Images

A general view of a Patisserie Valerie shop on October 11, 2018 in London, England. The company is usually facing a ‘winding up’ order after financial irregularities were identified. (Photo by Dan Kitwood/Getty Images)

Patisserie Valerie owner Patisserie Holdings said on Friday which Chris Marsh, its suspended finance director, was arrested by the police on Thursday night as well as had been released on bail.

Patisserie warned on Thursday which the item is usually in danger of collapse if the item cannot urgently raise capital after discovering a potential accounting fraud.

Friday’s statement comes after the company disclosed an accounting fraud earlier This kind of week which led to the company suspending Marsh.

Patisserie Holdings said on Thursday which an investigation had found a “material shortfall” between the reported accounts of the London-listed company as well as its true financial health.

Marsh did not immediately return a request for comment via Reuters on social media site LinkedIn.

Marsh, who joined the company in 2006, was an integral part of the company’s growth. Patisserie had just eight stores in 2008 as well as today operates more than 0 in Britain.

Shares of the company remain suspended via trading.

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