Ted Baker shares fall after ‘forced hugging’ complaints 3 December 2018 Share this with Facebook Share this with Messenger Share this with Twitter Share this with Email Share this with Facebook Share this with WhatsApp Share this with Messenger Share this with Twitter Share Share this with These are external links and will open in…
Ted Baker shares fall after ‘forced hugging’ complaints
Shares in Ted Baker have hit a three-year low in London after allegations of “forced hugging” about the fashion group’s founder and boss, Ray Kelvin.
Stock in the firm, which issues a trading update on Thursday, closed down 15%, or £2.76, at £15.50, on Monday.
A petition, launched by employees, accuses 62-year-old Mr Kelvin of inappropriate comments and behaviour.
The firm says a “thorough independent investigation” will be conducted into the allegations, which it disputes.
‘Part of the culture’
The petition on the workplace website Organise says that more than “200 Ted Baker staff are breaking the silence”, and speaking out about “50 recorded incidents of harassment at Ted Baker”.
“It is part of a culture that leaves harassment unchallenged,” the petition claims.