A mass of Christian burial was celebrated at St. Francis Church, Hoboken, on July 25 for Frank J. Spano, Jr., who served as principal of several Hoboken public schools. He passed away July 20 after a long illness. Born and raised in Hoboken, he has lived in Manchester Township since 2002.He was a member of the class of 1961 of St. Peter’s College, Jersey City, and received his master’s degree in school administration from Seton Hall University in 1966. He served in the Hoboken school system from 1961 through 2000. His career in education started at A.J. Demarest School as a teacher of Business Studies where he later became vice principal. In 1972 he was named principal of Joseph F. Brandt School where he served until 1995, he returned to A.J. Demarest as principal for the 1995-1996 school year, then took over as principal of Hoboken High School from which he retired in 2000.After retirement he served as interim principal in the Englewood Cliffs public school system as well as the Teaneck Public school system. Through all of Mr. Spano’s success in his career in education he also had an illustrious 50 year career as a sports official. Starting as a Little League umpire in 1964 he quickly moved to the high school level and to college baseball in 1967. His 22 year career as a college baseball umpire ended with him being on the diamond for the College World Series. He served as the Rules Interpreter for the College Baseball Umpires Association from 1984-1992. He took up refereeing college football in 1972 spending 20 seasons at the Division 1 level. He also refereed Division III Women’s College Basketball. After retiring from college officiating duties, Mr. Spano worked as a College Scout for the NFL and the Coach/Quarterback Coordinator for the NY Giants as well as the 24 Second Shot Clock Operator for the NJ Nets of the NBA. His love of sports was passed down to his children and grandchildren. The traveling involved in officiating college football became a passion of his.He is survived by his wife Gloria; his three children, Gayle Khoury, Joseph Spano and his wife Kristen, Frank Spano and his wife Christine and their mother Ann; his three stepchildren, Kristen Spano and her husband Joe, Danielle Bernie and her husband Budd, and Gary Hanson and his wife Johna. He leaves behind nine grandchildren: Elizabeth and Bobby Khoury, Sarah and Joseph Spano, Frank Spano, Maxelle and Budd Bernie and Alyvia and Gary Hanson; his sisters Marianne Maarleveld, Judith Scarpone; and brothers Joseph and Steven Spano. He was predeceased by his parents Frank and Josephine Spano.After retirement he travelled the world with his wife, Gloria, family and friends and spent much time in Paradise Island, Bahamas.Services arranged by the Failla-McKnight Memorial Home, Hoboken.
A winding-up petition against Patisserie Holdings’ trading subsidiary Stonebeach Limited has been dismissed by the courts.Earlier this month, the businesses announced serious accounting irregularities and the urgent need for a £20m capital injection to save the business.The Patisserie Holdings’ board also became aware of a winding-up petition filed at the High Court, advertised in the London Gazette on 5 October 2018, related to £1.14m owed to HMRC by Stonebeach.The company has today (24 October) said the winding-up order has been dismissed by the High Court of Justice, Business and Property Courts. Winding-up orders are typically dismissed when a business pays what is owed, or has reached an agreement to pay back what is owed.Patisserie Holdings resolved its short-term crisis with a share offer that raised £15.7m, while company chairman Luke Johnson has loaned the business £10m under a three-year term on an interest-free/fee-free basis, and is providing a bridging loan of up to £10m to be paid back from the share offer.This means the company, which operates more than 150 Patisserie Valerie sites and around 50 sites under other brands (see below), can continue trading in its current form for the foreseeable future on completion of the fundraising.Finance director Chris Marsh was suspended from his role this month, and has since been arrested and bailed.The company’s shares remain suspended from trading on AIM and this is expected to continue until the financial position is clearer.Patisserie HoldingsTotal number of sites: 206 *Brands: Patisserie Valerie (153 sites), Philpotts (22), Druckers (20), Baker and Spice (4), Flour Power City Bakery (1)Employees: 3,200Food/drink split (2017): 57/43Eat in/takeaway split (2017): 65/35Turnover: £60.5m (six months to 31 March 2018)EBITDA: £13.6m (six months to 31 March 2018)HQ location: BirminghamKey management: Paul May, CEO; Luke Johnson, chairmanPatisserie Holdings has a vertical supply chain, producing goods in-house at seven bakeries and delivering them to stores. Products are also sold online.Since acquiring the Patisserie Valerie business in 2006, the business has expanded rapidly through acquisitions and openings to more than 200 sites. In its current financial year, the business has been aiming to open 20 stores.Timeline1926: First Patisserie Valerie café opened in Frith Street in London’s Soho by Madame Valerie to introduce Continental-style patisserie to the English1939-1945: Café destroyed by bombing in Second World War, and Madame Valerie opens new Patisserie Valerie on nearby Old Compton Street1945-2005: Patisserie Valerie grows to eight sites in central London2006: Luke Johnson’s private equity firm Risk Capital Partners backs acquisition of Patisserie Valerie by Patisserie Holdings2007: Acquires Druckers – Vienna Patisserie2009: Acquires Baker & Spice, which operates sites in London and Oxford2013: Acquires London-based organic bakery Flour Power City Bakery2014: Acquires the Philpotts food supply and café chain2014: Patisserie Holdings listed on Alternative Investment Market2016: Annual sales exceed £100m for the first time2017: Launches trial partnership with Sainsbury’s, selling branded products on 12 supermarket counters. Partnership is a success and has since been expanded to 70 stores.201810 October (AM): Share trading suspended as company launches investigation into serious accounting irregularities. Chief financial officer Chris Marsh suspended.10 October (PM): Winding-up petition filed at the High Court relating to £1.14m owed to HMRC by Stonebeach Limited, the company’s principal trading subsidiary.11 October: Patisserie Holdings reports it cannot continue to trade in its current form without immediate cash injection.12 October: Chris Marsh arrested by police and released on bail.15 October: Share offer raises £15.7m to help Patisserie Holdings continue trading, while chairman Luke Johnson provides £20m in loans.24 October: Stonebeach winding-up order is dismissed.