Ted Baker to appoint administrators
Ted Baker’s UK and European retail and online arm is to appoint administrators.
The fashion retailer’s parent company Authentic Brands Group said an independent director at No Ordinary Designer Label, which trades as Ted Baker in the UK, has filed an intention to appoint administrators.
Authentic, which acquired Ted Baker 18 months ago, said the retailer had built up a significant amount of arrears while Dutch company AARC was running its stores and online business.
The move will put hundreds of jobs at risk across Ted Baker’s UK stores.
John McNamara, Authentic’s chief strategy and transition officer, said, ” Despite our tireless efforts, the damage done during a period under AARC in which NODL built up a significant level of arrears was too much to overcome.
“We wish that there could be a better outcome for the Ted Baker employees and stakeholders. It is hopefully some consolation for customers that NODL will continue to trade online and in stores.
“We remain focused on securing a new partner to uphold and grow the Ted Baker brand in the UK and Europe where it began.”
In 2022, Ted Baker agreed a £211 million takeover by Authentic which also owns brands such as Billabong, Forever 21 and Eddie Bauer.
