LEGAL | Staff Reporter, UK

Grant Thornton accused of failing to check Patisserie Valerie's cash position

Liquidators of Patisserie Valerie are suing Grant Thornton £200 million for alleged accounting failures.

FRP Advisory reportedly filed legal documents detailing Grant Thornton’s alleged errors in its auditing of Patisserie Valerie after launching a £225 million court claim against the professional services firm.

The Sunday Times reported that FRP, the liquidator of the chain, said that Grant Thornton’s “negligence” meant directors were “unaware that the café group had run out of cash.”

The case against GT centred on allegations that it failed to check Patisserie Valerie’s cash position “adequately”, the publication added.

Patisserie Valerie collapsed into administration in January 2019 following the discovery of a £40 million hole in its finances.

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