
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.
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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.
US private equity group Sycamore Partners has reportedly made a concrete offer for Ted Baker with news on Sunday that a bid has been tabled in the past few days.
Ted Baker founder Ray Kelvin has boosted his influence on the company via the appointment of a representative to the struggling retailer’s board.
As Ted Baker’s performance continues to disappoint, executive pay deals that seem overly generous to some of its investors are in the spotlight.
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.
Ray Kelvin has seen his stake slashed by 55% to just 15.8% following a £105 million fundraising to support the brand through the coronavirus pandemic.
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.
Troubled fashion retailer Ted Baker Plc said on Friday it has shut businesses that accounted for about 38% of its global retail sales in 2020 due to the coronavirus outbreak.
In yet another blow to Ted Baker, in shock news on Wednesday, the retailer said a review has shown that its inventory overstatement wasn't the £25m it had estimated, but almost £60m.