Ted Baker to close remaining stores
Ted Baker’s 31 remaining shops in the UK and Ireland are set to close this week with 500 jobs put at risk.
According to a report by Sky News, the news follows growing doubts about a potential licensing partnership with Mike Ashley’s Frasers Group.
The news site has reported that talks about a deal between Frasers Group and Ted Baker owner Authentic Brands Group have stalled.
A store source told Sky News that they had been told that Tuesday would be the final of trading.
The fashion brand’s UK and European retail and online arm appointed administrators in March. At the time, Authentic, which acquired Ted Baker in 2022,said the brand had built up a significant amount of arrears while Dutch company AARC was running its stores and online business.
The closure of the 31 stores will be overseen by administrators to the business behind Ted Baker’s UK shops, No Ordinary Designer Label. which collapsed in March.
In April, 15 Ted Baker stores were closed in the UK with 245 workers being made redundant.
Earlier this month, Authentic Brands Group announced that United Legwear & Apparel Co., BCI Brands and Peerless Clothing had all become new licensing partners for Ted Baker in a deal which would secure its future in the US and Canada.
