Patisserie : Valerie seeks 20 million pounds to stay afloat

(Reuters) - The owner of Patisserie Valerie, the British cafe chain rocked by an accounting scandal, said on Friday it requires at least 20 million pounds ($26.30 million) to continue trading and to avoid the need to appoint administrators.

Patisserie proposed to raise about 15 million pounds through the issue of 30 million shares and enter a new 10 million pound loan agreement with leading shareholder Luke Johnson to provide immediate liquidity to the group, it said in a statement.

($1 = 0.7604 pounds)

(Reporting by Justin George Varghese in Bengaluru; Editing by Kirsten Donovan)