LONDON (Alliance News) - Patisserie Valerie, the main trading subsidiary of Patisserie Holdings PLC, has a potential to collapse as soon as Tuesday if emergency talks between major shareholder Luke Johnson and its lenders fail, The Sunday Times reported.
The newspaper said Patisserie Valerie's Chair Johnson intends to extend a standstill agreement on the cake chain's bank facilities, which expired on Friday last week. If he fails, HSBC Holdings PLC and Barclays PLC could demand repayment of GBP9.7 million of overdraft debt.
https://www.thetimes.co.uk/edition/business/luke-johnson-at-centre-of-last-ditch-battle-to-save-patisserie-valerie-gk7brj8c5