Ted Baker loses more than £100m as Covid lockdowns dent sales

Retailer was struggling before pandemic and was hit by temporary departure of founder Ray Kelvin

Ted Baker made a loss of more than £100m in the first pandemic year as revenues at the fashion retailer plunged.

The company made revenues of £352m in the 53 weeks to the end of January, down 44% compared with revenues in the pre-pandemic year of £631m. Pretax losses were £108m.