Ted Baker overstates value of inventory by £58m

Wed, 22nd Jan 2020

Fashion retailer Ted Baker said an independent review found that the company had overstated the value of its inventory by £58m. The figure was materially higher than a £20m-to-£25m preliminary assessment announced last month. 'As previously stated, the overstatement is a non-cash item and related to prior years,' Ted Baker said. The review was conducted by professional services firm Deloitte. Story provided by StockMarketWire.com

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