Ted Baker founder and former chief executive Ray Kelvin is reportedly considering a private equity buyout of the company, four months after he quit following allegations of sexual harassment.
Kelvin, who owns about a third of the company, has indicated that he would support a buyout that would take the company private under the existing management, according to the Mail on Sunday.
Kelvin took a voluntary leave of absence from his role as CEO of Ted Baker in December after allegations of misconduct were made against him. Since that date, an internal independent committee has been investigating the claims and commissioned law firm Herbert Smith Freehills to investigate the allegations and the company’s policies, procedures and handling of HR-related complaints.
Kelvin has denied all allegations of misconduct. However, in March he agreed to resign with immediate effect from his position as chief executive and as a director of Ted Baker.
He is no longer on the board but retains a 35% stake, so any move to buy the company would have to secure his approval. It is not known if any attempt to buy the business is progressing or whether advisers have been appointed.
Kelvin founded Ted Baker in 1987 with a shop in Glasgow, before it became listed on the London Stock Exchange in 1997.
Ted Baker has been contacted for comment.