Ted Baker shares fall after it warns of £25m balance sheet error

Embattled fashion chain launches investigation after it
overstated value of stock

The struggling fashion chain Ted Baker has warned that it
overestimated the value of its stock and appointed a law firm to
carry out a comprehensive review.

The retailer, which has a new finance director, estimates that
the value of the inventory held on its balance sheet has been
overstated by £20m to £25m, based on preliminary analysis. The
error relates to previous years and will have no effect on its
financial position this year.

Source: FS – All-News2-Economy
Ted Baker shares fall after it warns of £25m balance sheet error