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Ray Kelvin said to consider backing PE buyout of Ted Baker

By Michele Maatouk

Date: Monday 22 Jul 2019

Ray Kelvin said to consider backing PE buyout of Ted Baker

(Sharecast News) - Ted Baker saw its shares surge on Monday as the fashion brand's founder, Ray Kelvin, was said to be mulling plans to back a private equity buyout of the company just months after he resigned following sexual harassment allegations.
According to The Mail on Sunday, Kelvin - who holds a 35% stake in the company - has signalled that he would support a buyout to take the group private under existing management.

Kelvin was understood to have made "discreet" inquiries about the possibility of taking Ted Baker private.

A retail source told The Mail: "Ted Baker is still a great brand and has proved resilient even in retail's toughest times - the bottom line though is that Ray Kelvin is Ted Baker.

"Private equity firms will find a way to make that work even if Ray takes some arm's-length or advisory role. But it would be very difficult while it remains listed on the stock exchange."

Kelvin, who denies all allegations of misconduct, resigned as chief executive and director of the company with immediate effect in March.

At 0855 BST, the shares were up 13% at 946.60p.

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