LONDON (Alliance News) - The former shareholder and boss of Patisserie Valerie unit Druckers said late Wednesday that he has no intention to make an offer or acquire shares in the struggling cafe chain.
Patisserie Valerie bought cake maker Druckers in 2007. David Scott was a shareholder and served as chief executive of Druckers.
"Despite the media reports, I have not appointed nor do I intend to appoint a company to liaise with shareholders on my behalf and I have no interest in making an offer for or acquiring shares in Patisserie Valerie or any related companies," Scott said.
Trading in Patisserie Valerie was suspended after the company said earlier in October that it has discovered "significant and potentially fraudulent" accounting irregularities, expected to be worth GBP20 million.
The company subsequently raised GBP15.7 million through a share placing and GBP20 million through loans from Executive Chairman Luke Johnson to stay afloat.