Fashion brand Ted Baker bolsters board after torrid year January 29, 2020 Embattled fashion brand Ted Baker has appointed a new chief customer officer as it attempts to bolster its management team following a torrid year for the retailer. Jennifer Roebuck, who was most recently chief marketing officer at online beauty platform Feel Unique, has taken on the newly created role at Ted Baker. Her brief will [...]
Not as easy as 1,2,3: Seven accounting errors that rocked FTSE firms January 22, 2020 Ted Baker today experienced the dubious honour of joining a list of FTSE firms that have been shaken by accounting errors in the past year. The fashion retailer revealed an accounting error was more than twice as bad as it previously thought, knocking shares down seven per cent. But it is by no means the [...]
Ted Baker reveals £25m accounting error actually cost it £58m January 22, 2020 Ted Baker’s torrid time continued this morning after the designer brand said that it had overstated the value of its inventory by £58m. Last month the luxury clothing firm said that it had appointed magic circle law firm Freshfields to investigate the issue, which it expected to cost £25m. Big four auditor Deloitte has now [...]
Ted Baker lenders appoint advisers to review prospects January 8, 2020 Ted Baker’s lenders have appointed advisers to review the struggling high street retailer’s prospects. Lenders including Barclays and Royal Bank of Scotland have lined up restructuring experts FTI Consultants to lead an independent business review to explore the health of the company, Sky News reported. The review could take several weeks, and may lead to [...]
Ted Baker shares dip as long-serving director exits December 17, 2019 Ted Baker’s share price dipped this morning after the retailer announced a long-serving board member will step down just a week after the firm’s chief executive and chairman quit. Shares slumped more than five per cent after the embattled fashion brand announced that non-executive director Ron Stewart has left with immediate effect after nine years. [...]
Accounting watchdog ‘plots sweeping rule changes’ for company executives December 15, 2019 The Financial Reporting Council (FRC) is lining up significant changes to corporate governance rules after a string of scandals at Patisserie Valerie, M&C Saatchi and Ted Baker. It is understood the accounting regulator is writing a British version of an American law passed in 2002 after Worldcom and Enron collapsed. Read more: FRC watchdog probes [...]
Ted Baker needs a dose of urgent first aid December 13, 2019 Oh, the irony. David Bernstein was in Switzerland in his capacity as chairman of the British Red Cross when he took a phone call ousting him as chairman of Ted Baker on Monday evening. Forget the Red Cross: it’s the fashion retailer which requires emergency aid. In the nine months since founder Ray Kelvin quit [...]
Ted Baker share price crashes as bosses quit after profit drop December 10, 2019 Ted Baker’s share price plummeted to a 16-year low this morning after two executives quit, plunging the stricken retailer further into crisis as it slashed its profit forecast and suspended its dividend. Shares dropped as much as 35 per cent in morning trading following the departure of chief executive Lindsay Page and executive chairman David [...]
Ted Baker hires headhunters to replace chairman December 8, 2019 Embattled retailer Ted Baker has appointed headhunters to find a replacement for chairman David Bernstein, as it seeks to reshuffle its senior management team following a challenging year for the upmarket brand. The retailer has hired consulting firm Korn Ferry to appoint a successor for Bernstein, who became chairman in 2013 and took on executive [...]
Ted Baker share price sinks into acquisition territory after £25m balance sheet error December 2, 2019 Ted Baker has warned investors that it is set to take up to a £25m hit after overstating the value of inventory on its balance sheet. The retailer has appointed Freshfields Bruckhaus Deringer to investigate the issue and told shareholders that it estimates an impact on the value of the clothing stock of between £20m [...]