Negotiations over the future of Ted Baker have failed, putting 500 jobs at risk as the company faces a full shutdown.
Ted Baker is set to permanently close all 31 of its remaining UK stores in the coming week, putting 500 jobs at risk. A report by Sky News revealed that negotiations have stalled between the brand’s owner, Authentic Brands Group (ABG), and prospective licensing partner Mike Ashley’s Frasers Group.
No Ordinary Designer Label, Ted Baker’s UK holding company, entered administration in March and has already closed 15 stores and laid off several hundred employees. The shop closures are expected to happen today (Tuesday) and will put around 500 jobs at risk.
The business was put into administration in March of this year and the collapse was roughly 18 months after Ted Baker delisted from the London stock market after being bought by ABG for about £210m.
