The administration of Patisserie Valerie has been obstructed after creditors to the collapsed café chain rejected plans by KPMG to wind down the business.
In a rare move, creditors voted against the professional services firm’s proposals on how to handle the administration, as it warned it was “uncertain” whether there would be enough money to repay them.
KPMG must now negotiate a deal with the creditors to proceed. If the two sides cannot agree, the administrator will have to apply to the court for directions, which could result in the company being liquidated.
