Shares in Ted Baker surged yesterday as investors seized on speculation that the founder of the struggling high street fashion retailer is considering backing a bid to take it private.
Ted Baker rose 113p, or 13.5 per cent, to 951p after a report over the weekend that Ray Kelvin, 63, has indicated that he will use his 35 per cent stake in Ted Baker to support a private equity buyout with existing management staying in place.
Mr Kelvin opened Ted Baker’s first store in Glasgow in 1987 and subsequently turned it into a highly profitable international fashion retailer with wholesale and licensing arms as well as high street outlets. The group has 560 stores and concessions worldwide, including 201 in Britain and 130 in North