![]() ![]() The stores to be closed as part of the administration are:Īuthentic Brands Group, the owner of the intellectual property of Ted Baker, is currently in the process of finding a new operating partner for the retail and e-commerce business in the UK and across Europe.īenji Dymant, Joint Administrator said: “Ted Baker is an iconic British brand with strong partners around the world. As such, their closure is believed to be a constructive and necessary step in ensuring the business can deliver a profitable trading performance in the future. The closing stores are all currently loss-making and, following review by the Joint Administrators, are deemed to have no prospect of being returned to profitability, even with material rent reductions. In addition, 25 head office roles have also been made redundant as a result of a necessary reduction in central costs. The move is expected to result in the loss of 120 store roles. Today they announced the decision to close 11 Ted Baker stores in the UK, with all sites expected to cease trading by April 19, 2024. ![]() On March 22 this year, Benji Dymant and Daniel Smith of Teneo Financial Advisory Limited were appointed as Joint Administrators of No Ordinary Designer Label Limited, retailers of the Ted Baker brand in the UK and Europe. ![]() Administrators have announced they are to close 11 branches of Ted Baker in the UK. ![]()
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