Patisserie Holdings completes sale of Baker & Spice for £2.5m after being saved in buyout
Six people, including three junior staff members, are reportedly facing arrest over the £40m accounting hole.
The administrators of Patisserie Holdings has sold another slice of the business, following the disposal of Baker & Spice to the Department of Coffee & Social Affairs for £2.5 million.
The sale follows last week’s announcement of the Patisserie Valerie and Philpotts’ disposals, which were sold in separate transactions for a combined total of £13 million.
Specifically, Patisserie Valerie was bought by Dublin based private equity firm Causeway Capital, whilst Philpotts was sold to A.F. Blakemore.
The Sunday Times first reported that up to six people are currently under investigation over alleged fraud at the company, which first reported problems last October after discovering a £40 million accounting hole.
