Published: 1st February 2019
Julie Palmer, Regional Managing Partner at RBR Advisory, was back in the Sky News studio last week following the news of Patisserie Valerie falling into administration.
The cafe chain had collapsed after the failure of rescue talks with banks and administrators immediately looked to close 70 outlets with the remaining 121 continuing to trade in the hope of finding a buyer.
In October, Patisserie Valerie uncovered “significant, and potentially fraudulent, accounting irregularities”.
Julie was quizzed on Ian King Live as to how another big high street name could collapse and if the company had any chance of a rising from the ashes.
“It’s a large company; a listed company, with £0.5bn of shareholder value wiped out overnight so, not surprisingly, the shareholders are garnering their forces to say ‘this needs to be looked at’ and it needs properly looking at because people need to have faith in the markets they’re dealing with. And if this continues to happen – and it has continued to happen – how can people have that sort of faith?”