Ted Baker in Regent Street, London, with unfortunate window stencilling
Teneo (administrators for Ted Baker) has revealed that it has identified 11 sites – including those at high-profile destinations such as Liverpool ONE and Birmingham Bullring – to be closed, which will result in the loss of around 120 store roles. All 11 sites are expected to cease trading by 19 April. A further 25 head office roles are also to be cut.
It was also revealed that landlords had served notice on four stores (Bicester Village, Floral Street London, Brompton Road, London and Manchester Trafford), before they were appointed and these closures will account for another 100 job losses.
Associated Brands Group (ABG), appointed administrators to No Ordinary Designer Label Limited, the trading business for Ted Baker’s UK retail arm, last month attributing blame for the damage done to the business by retail partner AARC.
The firm has become the latest high-profile collapse in British fashion.The closures leave Ted Baker with 31 stores and 564 staff in the UK and Ireland, as the administrators attempt to find a buyer to rescue the remains of the business.
Benji Dymant, joint administrator, said:
Ted Baker is an iconic British brand with strong partners around the world. These store closures, whilst with a regrettable impact on valued team members, will improve the performance of the business, as Authentic continues to progress discussions with potential UK and European operating partners for the Ted Baker brand to bring the business back to health.
We would like to thank Ted Baker team members and partners for their ongoing efforts and support at this difficult time.”
Stores to be closed are Birmingham Bullring, Bristol, Bromley, Cambridge, Exeter, Leeds, Liverpool One, London Bridge, Milton Keynes, Nottingham and Oxford.
