Ted Baker is set to close all its remaining UK stores, as reported by Sky News. This decision comes after the closure of 11 stores earlier this year, putting approximately 500 jobs at risk. The brand’s only remaining Welsh store is located in Bridgend at the designer outlet, with a concession in John Lewis in Cardiff. The closure of all 31 UK stores is expected to be completed by the end of this week.
In April, administrators closed 15 shops and reduced the workforce by 245 employees. Prior to administration, Ted Baker employed around 975 staff in the UK and operated 46 stores along with online and department store concessions. The company behind Ted Baker’s UK stores, No Ordinary Designer Label (NODL), went into administration in March this year.
Authentic Brands Group, a US firm, owns the intellectual property of Ted Baker, while NODL was the UK-based holding company for the brand. Despite discussions for a licensing partnership with retail tycoon Mike Ashley, talks between Frasers Group and Authentic have reportedly stalled. The closure of stores is aimed at enhancing the brand’s performance, with hopes for the business’s long-term success.
Benji Dymant, Joint Administrator, highlighted Ted Baker as an iconic British brand with global partners. The brand, founded in Glasgow in 1988, had a significant presence in the UK prior to the administration. As the company navigates through these changes, there are ongoing discussions with potential UK and European operating partners to revive the Ted Baker brand.
The closure of all remaining UK stores marks a significant development for the renowned British fashion label. Despite the challenges faced, Ted Baker remains a prominent brand with a legacy spanning over three decades. Stay updated with the latest news on this evolving story.
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