31st Oct 2014 07:56
LONDON (Alliance News) - Ted Baker PLC on Friday said its ongoing claim against AXA Insurance UK PLC, its previous insurance company, for loss of profit arising from the theft of inventory from its warehouse between 2004 and 2008 has not been upheld by the High Court.
Another hearing which will determine the award of costs is expected to be held in the next couple of weeks, the FTSE 250 retailer said.
Ted Baker said it was "disappointed" with the outcome of the case and was considering its options.
It said the judgement will not have any significant impact on the financial position of the group, nor on its trading.
It said any additional costs that could arise from the outcome of the case will be treated as an exceptional item.
By Sam Unsted; [email protected]; @SamUAtAlliance
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