Fashion retailer Ted Baker is closing its UK stores, concessions and websites, with hundreds of job losses expected within weeks.
The move follows the closure of 11 “loss-making” stores earlier this year, which led to 145 redundancies, including 120 in-store and 25 at its London head office.
In an email to head office and store staff, seen by fashion publication Drapers, the administrators said: “We are sorry to have shared such difficult news. However, we want to emphasise again that this outcome is no reflection of the amazing work and support you have provided these last four months.”
No Ordinary Designer Label, which is behind the retailer’s UK outlets, went into administration in March. At the time, Authentic blamed “damage done” which was “too much to overcome” during a tie-up with Dutch business AARC, which ran Ted Baker’s shops and online business in a deal that ended in January.
Ted Baker’s intellectual property owner, US-based Authentic Brands Group, filed a notice to appoint restructuring firm Teneo Financial Advisory to act as the administrator for No Ordinary Designer Label and had hoped to find a new partner to run its stores and websites in the UK and Europe.
In May, Frasers Group appeared to be a strong contender to take on the partnership, but no deal has been reached so far.
To date, 15 of Ted Baker’s UK stores have permanently closed, resulting in 245 job losses. Before the insolvency, it had stores across the UK and about 975 employees.
Founded in 1988, Ted Baker was launched in Glasgow by Ray Kelvin, who quit as chief executive in 2019 when staff complained he’d introduced a culture of “forced hugs and claimed he had kissed employees’ ears.
Ted Baker has been contacted for comment about the latest job cuts.
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