Ted Baker probes £25m stock overstatement

A Ted Baker shop Image copyright Ted Baker

Fashion retailer Ted Baker has said it may have overstated the value of its stock by between £20m and £25m.

Law firm Freshfields Bruckhaus Deringer is to carry out a review, and independent accountants will also be appointed to investigate.

Ted Baker said it did not expect any cash impact, but one analyst said the timing was “less than ideal”.

Earlier this year, the company’s former boss Ray Kelvin stepped down over misconduct allegations.

The company said in a statement: “Ted Baker is committed to ensuring the independent review is completed in an efficient and transparent manner and will update the market as appropriate. Whilst the review is ongoing, the company will not comment further.”

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