Ted Baker in­ves­ti­gates £25m er­ror in ac­counts

The Daily Telegraph - - Front Page -

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”.

Busi­ness, page 1

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