Ted Baker has suffered a setback in a long-running case against Axa Insurance UK after the High Court said it would not uphold a claim relating to the loss of profit after a series of thefts.
The retailer is now “considering its options” after the judge threw out the case, which relates to an insurance payout for a series of thefts from its warehouse from 2004 to 2008 that resulted in a seven-figure loss for the retailer.
The thefts were committed by a warehouse employee and two accomplices.
Ted Baker is seeking an insurance claim for £3m for the resulting loss of profits and business disruption.
However, Axa maintains that its policy did not cover claims for employee theft, according to The Telegraph.
Ted Baker won a claim for £1m for loss of stock in 2012.