Patisserie Valerie appoints interim CFO as it seeks to steady the ship after accounting scandal

Joe Curtis
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Patisserie Valerie Chain Faces Crisis Over £20million Hole In Finances
Patisserie Valerie unveiled a £40m accounting black hole in October (Source: Getty)

Embattled cake shop Patisserie Valerie has appointed an interim CFO after its last one was suspended before quitting amid an accounting scandal surrounding a £40m black hole.

Nick Perrin will serve in the role until the bakers can find a permanent successor to Chris Marsh, who resigned following investigations into possible fraud at the company.

Marsh was arrested by police on bail after October’s revelations and is under investigation by the Financial Reporting Council.

His replacement, Perrin, most recently worked as finance director of AIM-quoted vet services provider CVS, which saw revenues grow from £110m to £350m during his time there.

The appointment comes after former Patisserie boss Paul May resigned with immediate effect last month, to be replaced by food industry veteran Steve Francis.

“I am pleased to welcome Nick to Patisserie Holdings,” Francis said.

“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 company is reportedly in talks about replacing its auditor, Grant Thornton, after the scandal.