Ted Baker founder Ray Kelvin — who still owns a double-digit stake in the firm — is supporting the idea of taking the business private following multiple offers from Sycamore Partners and the launch of a sale process.
Ted Baker announced the results of its share placing on Thursday and while the firm’s shares have seen their values steadily falling for a number of years, it proved popular as all the new shares were sold.
The owners of fashion businesses like River Island, The Edinburgh Woollen Mill Group, Arcadia, Charles Tyrwhitt, New Look and Monsoon Accessorize have all seen their estimated personal wealth fall over the past year.
Ted Baker said Monday that stores accounting for 68% of annual retail sales are now shut. But while that’s bad news, it also had something good to report with e-tail up strongly and its HQ sold for a good price.