26th Oct 2018 11:43
LONDON (Alliance News) - Embattled cafe chain Patisserie Holdings PLC said Friday its suspended finance director, Chris Marsh, has resigned from the board with immediate effect.
Earlier in October, Marsh was arrested and then released after the company announced potentially fraudulent accounting irregularities.
Since then, it has raised equity and received a loan from Executive Chairman Luke Johnson worth a combined GBP35 million to keep itself afloat.
On Wednesday, the UK High Court dismissed a winding-up petition from the taxman against its main trading unit Stonebeach Ltd.
Shares in Patisserie have been suspended from trading on AIM since the accounting issue was first announced.
Related Shares:
Patisserie Holdings Plc