Ted Baker could disappear from British high streets as administrators plan to shut all its shops within the next few weeks. Staff at the struggling fashion chain have also been given notice that they will be losing their jobs when the shops are closed, the Sun reported.
The business behind the brand’s shops, No Ordinary Designer Label Limited (NODL), fell into administration in March. It has since shut 15 stores across the UK, resulting in about 245 employees being made redundant.
Despite administrator’s efforts to find a buyer, it seems that Ted Baker has not managed to find a viable solution. However, it is understood that the plans have not yet been finalised.
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Ted Baker had 46 UK shops and employed around 975 people prior to the insolvency. Authentic Brands, the US-based firm behind Juicy Couture and Reebok, is still the owner of Ted Baker’s intellectual property and was hoping to find a new partner to run the Ted Baker retail and online business in the UK and Europe.
The collapse of the UK stores could mark the end of its position on high streets, after being founded in 1988 by Ray Kelvin and recognised for its patterned and floral clothing and bow bags. However, the brand is currently still sold through department stores and retailers such as John Lewis and House of Fraser.
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