Ted Baker’s Sudden Store Handoffs: 15 Shops Gone, Hundreds of Jobs Lost
British fashion icon Ted Baker is pulling the plug on 15 stores across the UK, leaving hundreds of employees out of a job. The move comes after the retailer hit a significant arrears wall and decided to bring in Teneo Financial Advisory as administrators.
Who’s Owning the Brand?
No Ordinary Designer Label Limited (trading on the famous Ted Baker name) is owned by Authentic Brands Group (ABG). ABG has stepped in as the parent company, but that hasn’t saved the current slump.
Inside the Administrator’s Words
- Benji Dymant, joint administrator, said it was a tough call: “We’re an iconic brand with strong global partners, but these store closures are regrettable. We hope they’ll boost performance while we search for new UK and European partners.”
- ABG’s strategy chief, John McNamara, added: “After a rough period under AARC, the arrears were too heavy to lift. We wish the outcome had been kinder to employees and stakeholders.”
The Silver Lining
Even with the brick‑and‑mortar shutdowns, Ted Baker online sales and select stores will keep ticking. ABG is hunting for a new partner that can revive the brand’s reputation across the UK and Europe.
For everyone holding a bag of hope or a designer cap, it’s a reminder that fashion can be as fickle as the weather—one day you’re fashion‑forward, the next your shoes are out of stock. Stay tuned for updates as this story unfolds. Happy shopping—now, maybe not in a physical store.
