Ted Baker to close all its UK stores
Ted Baker is planning to close all its UK stores within weeks, according to multiple reports. Hundreds of staff at the fashion retailer have reportedly been told they will lose their jobs
The company behind the brand’s UK stores, No Ordinary Designer Label Limited (NODL), went into administration in March. Since then, 15 stores in the UK were shut and 245 store and head office jobs were made redundant.
However, according to multiple reports, administrators from Teneo have announced plans to close all remaining stores in the UK within the next three weeks and employees have been given the same time to prepare for the store closures and subsequent job losses.
Meanwhile, the US-based Authentic Brands Group, which owns Ted Baker’s intellectual property, was hoping to find a new operating partner for the brand’s retail and e-commerce business in the UK and Europe. However, there has been no update on this matter.
Founded in 1988 by Ray Kelvin and once renowned for its distinctive British style, Ted Baker had in the UK and employed around 975 people before its insolvency.
Image Credits: bloomberg.com
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