Patisserie Holdings CFO admits supplier payment issues
Nick Perrin revealed that the injected funds were used to address these issues.
Amidst an ongoing fraud investigation, parent company of struggling bakery chain Patisserie Holdings admitted that they had supplier payment issues such as delays.
In a letter from interim CFO Nick Perrin addressed to the chair of Business, Energy and Industrial Strategy select committee Rachel Reeves, he wrote: “It was identified that there are many creditors with a large backlog of unpaid invoices.”
It also added that Perrin was wondering why the previous management failed to have these payment reports published. The funds they received are now used for these delayed payments.
Patisserie Holdings was revealed to have an accounting hole in last year. The chain was saved by their chair Luke Johnson by injecting £20 million and vowed not to touch his monthly salary from the company.
