Troubled cafe chain Patisserie Holdings PLC (LON:CAKE) remains locked in talks with its banks over a finance package without which the group might fail as soon as this week.
In a statement, Patisserie said the talks to extend its facilities beyond January 18 were ongoing.
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The cake chain has been brought to its knees by fraud that left a £40mln gap in its accounts.
Forensic accountants last week said they had uncovered “thousands of false entries into the company’s ledgers”.
Patisserie added it was clear that the cash flow and profitability of the business had been overstated.
Executive chairman Luke Johnson has already injected £20mln of his own funds into the firm to keep it afloat.
He was subsequently repaid £10mln after the company managed a £15mln fundraise, but Johnson made need to make a second bailout if talks with its banks falter.
HSBC and Barclays are said to be owed £10mln and could demand immediate repayment if no agreement is reached.
Since October, when the crisis first emerged, Patisserie has appointed a new CEO, a new interim CFO, a new non-executive director, a new commercial director and a new production director, as well as other management appointments.