Patisserie Holdings finance director Chris Marsh quits

26th Oct 2018 11:45

(Sharecast News) - Patisserie Holdings said on Friday that finance director Chris Marsh - who was suspended earlier this month following the discovery of a multi-million pound black hole in the company's accounts - has resigned with immediate effect.The group, which owns Patisserie Valerie and Baker and Spice, said it was "reserving its position in respect of any potential claims it may have against him".Marsh was arrested earlier this month and released on bail after the company suspended its shares from trading on AIM as it discovered "significant and potentially fraudulent" irregularities in its accounts.Since then, chairman Luke Johnson has stepped to keep Patisserie Holdings afloat with loans of £20m. The group also raised an additional £15m through a heavily-discounted equity placing.The Serious Fraud Office has launched an investigation into potential fraud at Patisserie.