By  on December 2, 2019

LONDON — Shares in Ted Baker plc closed down nearly 8 percent on Monday at 3.66 pounds after the company said the value of inventory held on its balance sheet has been overstated.

The company said that, based on preliminary analysis, the board estimates an impact on value to range from 20 million pounds to 25 million pounds, but the error will have “no cash impact and will relate to prior years.”

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