Patisserie Valerie's accounting hole grows to £94 million

The accounting black hole of Patisserie Valerie has swelled to £94m, according to its administrators KPMG.

Since falling into administration in January, the embattled cafe chain was found to have overstated its cash position by £30 million and failed to disclose overdrafts of nearly £10 million.

KPMG, in its latest report, also said the company falsely claimed to have £54 million in cash.

"It will be necessary for the Company to consider whether there may be sufficient grounds to establish potential legal claims against a number of parties," it said. "These parties may include Grant Thornton, who were the auditors to the Patisserie Valerie Group," it added.

KPMG, however, said it would not be appropriate for it to consider whether Patisserie Valerie has a potential legal claim against Grant Thornton the latter company were "also auditors to KPMG".