Ted Baker investigates £25m error in accounts
Fashion firm Ted Baker has had to reveal a £25m accounting mistake, piling fresh pressure on bosses of the troubled business. Shares in the retailer dropped 8pc to a 10-year low after bosses said it had over-calculated stock value. The company has now called in a “magic circle” law firm and independent accountants, amid calls for an overhaul of its accounting practices. Analysts at Liberum, Ted Baker house broker, described the development as “less than ideal”.
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