Ted Baker: A story of ‘forced hugging’ and stock market turmoil

Four months after Ted Baker launched a formal sales review, the board yesterday recommended a cut-price £211 million takeover offer in a deal that finally could bring to an end the fashion retailer’s troubles on the stock market.

From a “forced hugging” scandal, which led to the departure of the company’s founder three and a half years ago, to the later discovery of accounting errors and a trading slump triggered by the pandemic, shareholder approval for the 110p-a-share offer from Authentic Brands Group, the American owner of Reebok and Juicy Couture, would lead to the delisting of a former stock market darling.

In a statement after the takeover plans were announced, Ray Kelvin, 66, the veteran retailer who opened his first shop selling men’s

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