Deputy chairman quits scandal-hit Patisserie Valerie

Beleaguered café chain Patisserie Valerie’s deputy chairman and non-executive director Lee Ginsberg resigned with immediate effect on Thursday, becoming the latest in a number of senior figures to quit the company.

He is the second non-executive director to step down from the company this week after restaurant boss James Horler quit on Monday, even after the company's accounting scandal led to the appointment of a new chief executive, chief financial officer, non-executive director, commercial director and production director.

Ginsberg had been chair of the audit committee at Patisserie Valerie, which has uncovered huge accounting inconsistencies, according to a market update released on Wednesday, which revealed its balance sheet had been “significantly” manipulated through thousands of false entries.

The shocking revelations followed news from September that the AIM traded chain had a £40m hole in its accounts.

Subsequently, the business has survived due to an emergency loan from chairman Luke Johnson and the work of KPMG, who have been hired in order to explore the options available in order to keep the chain afloat.

Patisserie Holdings’ shares were unchanged at 429.50p at 1132 GMT.