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Two Of Dublin's Most-Loved And Popular Cafés Closed Down Today

By Darragh Berry

January 24, 2019 at 11:57am

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We fell in love with these shops because of their glorious treats so you can imagine we're extremely sad with the news.

Patisserie Valerie has shut down its Dublin outlet "until further notice" according to a sign on the front door of its Henry Street outlet.

This morning it was announced that 70 branches would be closed including its two Dublin ones.

Their other Dublin shop is in Blanchardstown Shopping Centre.

On Tuesday they said:

"Patisserie Holdings plc announces today that, as a direct result of the significant fraud referred to in previous announcements, it has been unable to renew its bank facilities, and therefore regrettably the business does not have sufficient funding to meet its liabilities as they fall due."

They ceased trading for a period back in October after it was discovered that there was a "black hole" in their finances.

A statement from the company back then said that:

"The company, in conjunction with its professional advisers, has during the last 24 hours, undertaken further investigation into the financial status of the company.

"The board has now reached the conclusion that there is a material shortfall between the reported financial status and the current financial status of the business.

"Without an immediate injection of capital, the directors are of the view that that is no scope for the business to continue trading in its current form.

"[There has been] significant, and potentially fraudulent, accounting irregularities and therefore a potential material mis-statement of the company's accounts

"[We are] assessing all options available to the business to keep it trading."

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