5th Dec 2018 08:39
LONDON (Alliance News) - Patisserie Holdings PLC said Wednesday it appointed Nick Perrin as interim chief financial officer, as it looks for a permanent replacement.
Perrin was most recently finance director of AIM-listed CVS Group PLC, a veterinary services provider.
Newly-appointed Chief Executive Officer Stephen Francis, who joined in mid-November after Paul May's resignation, said: "I am pleased to welcome Nick to Patisserie Holdings. He brings with him the necessary experience to help strengthen the team as the company works tirelessly to put the events of the past months behind it and look forward to the future."
The cafe chain has been struggling since discovering in October a GBP40 million black hole in its financial accounts due to potentially fraudulent accounting irregularities.
Perrin replaces former finance director Chris Marsh, who was suspended by the company after it discovered its shortfall. He was arrested and released on bail prior to handing in his resignation from Patisserie.
The firm has since raised GBP15.7 million via a share issue. It placed 31.5 million shares at 50 pence each, with shares last quoted at 429.50p per share before the stock was suspended from trading after the black hole was revealed.
Related Shares:
CVS GroupPatisserie Holdings Plc