Ted Baker bosses resign on warning pretax profit may crash 90%
10 December 2019 - 21:21
Geneva — Ted Baker’s top management resigned on Tuesday and the UK fashion chain suspended its dividend, triggering a plunge in the shares to the lowest since 2003.
The power vacuum leaves Ted Baker floundering as it tries to contain the fallout from allegations of inappropriate office behaviour by its founder, Ray Kelvin, and the overstatement of unsold goods. The shares fell as much as 36% as the retailer also forecast a drop in pretax profit of as much as 90%...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.