Ted Baker is facing significant closures as it winds down its UK operations by shutting its remaining stores and website in August.
- Administrators at Teneo informed employees, maintaining that this decision does not reflect negatively on the hard work of the staff.
- The closure follows unsuccessful negotiations with new operating partners, leaving no immediate transition once the current stock sells out.
- Previously acquired by Authentic Brands Group, Ted Baker had employed nearly 1,000 individuals across the UK and Europe before entering administration.
- Frasers Group showed interest in taking over UK operations, but no deal was reached, affecting timelines for potential recovery.
Ted Baker is preparing to close its remaining stores and website in the UK, with closures expected between 9 and 21 August. This decision follows the business’s entry into administration and the inability to secure a new operational partner.
Administrators at Teneo communicated to staff that the impending closures are no reflection of their efforts and dedication. Their message underlines the difficulties faced despite the team’s significant contributions over the past four months.
Ted Baker’s closure has been primarily influenced by unsuccessful negotiations between Authentic Brands Group, which acquired the company two years ago, and potential new partners. With no agreement in sight, the end of the stock sale marks the cessation of UK operations.
The retailer, which employed approximately 975 individuals and operated 46 stores across the UK and Europe, has not found a path to continue its presence in these markets.
Frasers Group emerged in May as a potential saviour for Ted Baker’s British operations. However, as talks did not materialise into a deal, the possibility for an immediate operational transition was halted.
The lack of successful negotiations has led to the unavoidable closure of Ted Baker’s UK operations, marking a significant turn for the brand.
