Town Cake store under threat of closure

Town Cake store under threat of closure

Southport could be left with yet another empty shop as the threat of closure looms on Patisserie Valerie.

The stricken cakes and cafe chain said it will have to cease trading without “an immediate injection of capital”.

The owner of Patisserie Valerie was plunged into financial crisis on Wednesday after it revealed a multimillion-pound accounting black hole and that its main trading subsidiary was facing a winding-up order.

On Thursday, the board said there was a “material shortfall between the reported financial status and the current financial status of the business” and it would need new funds to continue trading.