Patisserie Holdings plc (AIM: CAKE) (“PH”, the “Company” and together with its subsidiary undertakings, the “Group”) announces that the Company, in conjunction with its professional advisers, has during the last twenty-four hours, undertaken further investigation into the financial status of the Company. The Board has now reached the conclusion that there is a material shortfall between the reported financial status and the current financial status of the business.
Without an immediate injection of capital, the Directors are of the view that that is no scope for the business to continue trading in its current form.
As a consequence, the Directors and the Company's professional advisers are assessing all options available to the business to keep it trading and will update the market in due course….