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.