Popular high street brand could close its doors for good
Global fashion brand Ted Baker is reportedly planning to close all of its stores within the next three weeks.
Staff have been given just three weeks’ notice that they will lose their jobs when the shops close for good, according to reports from The Sun.
The popular luxury brand went into administration last month, when No Ordinary Designer Label (NODL), owned by Authentic Brands Group (ABG) and trading as Ted Baker, appointed Teneo to oversee the administration process.
Teneo has declined to comment. Express.co.uk has contacted Ted Baker for comment regarding the latest developments.
Earlier this year, Ted Baker shut down 11 stores and cut back several head office roles.
The closures led to 145 redundancies which included 120 store staff and 25 head office roles.
The stores that closed were reportedly “loss-making” and had no prospect of becoming profitable, even with material rent reductions.
In total, 15 Ted Baker stores have closed for good across the UK which has led to the loss of 245 jobs.
Speaking after closing the 15 stores, Authentic Brands Group chief strategy and transition officer John McNamara said: “We wish that there could have been a better outcome for the Ted Baker employees and stakeholders.”
When Ted Baker went into administration in March, it employed 975 people and had 86 outlets in the UK.
The following Ted Baker branches are already closed:
- Birmingham Bullring
- Bristol
- Bromley
- Cambridge
- Exeter
- Leeds
- Liverpool One
- London Bridge
- Milton Keynes
- Nottingham
- Oxford
- Bicester (notice served before administration process)
- Brompton Road, London (notice served before administration process)
- Floral Street, London (notice served before administration process)
- Manchester Trafford (notice served before administration process)
