Ted Baker to close all remaining stores this week with 500 jobs at risk

Since the announcement of its administration, 15 stores in the UK have already closed with 245 employees laid off.

Ted Baker’s remaining 31 stores are anticipated to shut down this week, five months after entering administration.

Over 500 jobs are likely to be at risk, as discussions with retail tycoon Mike Ashley regarding a potential licensing partnership seem to have stalled.

The company behind the fashion brand’s UK stores, No Ordinary Designer Label Limited (NODL), went into administration in March, with its administrators managing the store closures.

A source informed Sky News that Tuesday is expected to be the final day of trading.

Since the announcement of its administration, 15 stores in the UK have already closed, leading to approximately 245 employees being laid off.

Before the insolvency, Ted Baker operated 46 UK stores and had around 975 employees.

Authentic Brands, the US-based company behind Juicy Couture and Reebok, remains the owner of Ted Baker’s intellectual property, with reports indicating that Mr. Ashley’s Fraser Group had been in talks with Authentic about a deal involving both Ted Baker and Reebok.

The closure of the UK stores could signal the end of its presence on high streets, after being founded in 1988 by Ray Kelvin and becoming known for its patterned and floral clothing.

The brand continues to be sold through department stores and retailers such as John Lewis and House of Fraser.

Its troubles began in 2019 when its founder was accused of inappropriate conduct, which he denied, leading to his successor Lindsay Page and chairman David Bernstein stepping down the following year after a profit warning.

The company was delisted from the London stock market in 2022, with NODL partially attributing this to the damage caused during a partnership with the Dutch company AARC Group and the “significant level of arrears” that accumulated during the relationship.