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Ted Baker calls in advisers

Ted Baker has appointed consultancy firm AlixPartners to conduct an in-depth review its operations after a troublesome year.

AlixPartners, which is understood to have been appointed in recent weeks, will review all areas of the business. This will be separate from the ongoing investigation into an overstatement of inventory levels announced earlier this week. 

The review is thought to be looking into Ted Baker’s customer strategy, cost base, supply chains and cross-departmental operations with the aim of producing a turnaround plan. 

Ted Baker has issued a string of profit warnings this year, and swung to a pre-tax loss of £23m for the 28 weeks to 10 August 2019. It made a profit of £24.5m during the same period in 2018. 

A spokesman said: “As you would expect, from time to time the group engages professional advisers to provide additional expertise to help enhance the group’s operations and drive progress against Ted Baker’s strategy to further develop as a global lifestyle brand.”

It comes after Ted Baker warned investors that it may have overstated the value of its inventory by up to £25m earlier this week. The retailer has appointed Freshfields Bruckhaus Deringer to investigate the issues.

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Readers' comments (6)

  • It would now appear that the £25m inventory overstatement is more than 'just a hiccup'...... the market has been judging this business over the past 4 years , Nov 2015 - 3416p, Dec 2018- 1467p, Dec 2019 - 384p.

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  • Bring back Ray

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  • I totally agree Ray, he is Mr Ted Baker, and he is the only one to put this brand back on track.

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  • darren hoggett

    You only bring advisers in when you don't or no longer know what you are doing. Ray was Ted Baker and now he's not there. Just saying.

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  • Totally agree with Darren

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  • Only left the business in March. company worth down 70% since last Christmas and roughly 90% down on 2014...think it might have been happening whilst he was in charge folks

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