StockMarketWire.com - Fashion retailer Ted Baker said an independent review found that the company had overstated the value of its inventory by £58m.

The figure was materially higher than a £20m-to-£25m preliminary assessment announced last month.

'As previously stated, the overstatement is a non-cash item and related to prior years,' Ted Baker said.

The review was conducted by professional services firm Deloitte.

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