Ted Baker: Well, we have £25m in inventory overstated

The board has brought in lawyers and independent accountants to assess the issue, which the company insisted will have no cash impact and only relates to previous years.

Topics: Ted Baker

Freshfields Bruckhaus Deringer will now undertake a comprehensive review of the issue, reporting back to independent director Sharon Baylay, a marketing executive who joined the board of Ted Baker last year.

The company added: “All costs and fees associated with completing the independent review will be expensed in the period incurred and clearly identified as such.” ■