Five arrested over alleged fraud at Solihull-based Patisserie Valerie - The Solihull Observer

Five arrested over alleged fraud at Solihull-based Patisserie Valerie

Solihull Editorial 25th Jun, 2019   0

FIVE people have been arrested over alleged accounting fraud at the Solihull-based Patisserie Valerie chain, the Serious Fraud Office has said.

The arrests took place last Tuesday, June 18, in a joint operation with police, the SFO said.

It comes eight months after the firm’s former finance director, Chris Marsh, was arrested and has been released on bail.

Patisserie Valerie – owned by Hall Green-based Patisserie Holdings plc with its headqaurters on Sarehole Road – went into administration in January and was bought for £5million by Causeway Capital.

It was put up for sale after collapsing following the discovery of allegedly fraudulent activity in its accounts.

Around 70 cafes closed across the country including Druckers in Touchwood Shopping Centre in January.

The move resulted in some 920 redundancies across the country.

An SFO spokesperson, who did not say who had been arrested or what they were detained for, said: “On Tuesday, June 18, as part of a joint operation with Hertfordshire, Leicestershire and the Metropolitan Police Services, five individuals were arrested and interviewed in connection with the Serious Fraud Office investigation into individuals associated with Patisserie Holdings PLC.”

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