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Grant Thornton hit with lawsuit over collapse of Patisserie Valerie

The cake chain collapsed in 2019 after it discovered a £40m black hole in its accounts

By

James Booth

Patisserie Valerie was bought out of administration by its management team and Irish private equity fund Causeway Capital in February 2019.
Patisserie Valerie was bought out of administration by its management team and Irish private equity fund Causeway Capital in February 2019. Photo: Getty Images

Accountancy firm Grant Thornton has been hit with a lawsuit over its role as auditor to cake chain Patisserie Valerie which collapsed in 2019 after it discovered a £40m hole in its accounts.

Administrators for the failed chain launched a High Court claim against Grant Thornton today in another blow for the firm which is already being investigated by the sector's regulator over its role in the chain’s demise. The Financial Reporting Council announced its investigation in November 2018.

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