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Fashion retailer says it expects pretax profit of £5m compared with £50m last year
Fashion retailer Ted Baker descended further into crisis as it issued a stark profit warning, scrapped its dividend and announced the immediate departure of both its chief executive and executive chairman.
Lindsay Page, the chief executive, has been replaced on an interim basis by finance director Rachel Osborne. Page had taken over from the company’s founder Ray Kelvin in April, after he was accused of a regime of “forced hugs” and harassment. David Bernstein, the executive chairman, has also quit and been succeeded by Sharon Baylay, an independent director, as acting chair. Continue reading...