Hundreds of jobs at risk as Ted Baker set to call in administrators
Authentic Brands Group bought Ted Baker in 2022.
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Hundreds of jobs could be at risk as the owner of Ted Baker filed a motion to appoint administrators to the ailing high street retailer.
Authentic Brands Group, which bought Ted Baker in 2022, said that No Ordinary Designer Label (NODL), the company which trades as Ted Baker, had built up “a significant level of arrears”.
It comes weeks after the end of its partnership with Dutch firm AARC, which ran Ted Baker’s shops and online business in Europe.
We wish that there could have been a better outcome for the Ted Baker employees and stakeholders
The arrears were built up as the business faced tough trading last year, and during the partnership with AARC.
Ted Baker walked away from the AARC deal in January after it claimed its partner had failed to meet its promise to inject cash into the business.
“Despite our tireless efforts, the damage done during a period under AARC in which NODL built up a significant level of arrears was too much to overcome,” said Authentic’s chief strategy and transition officer John McNamara.
“We wish that there could have been a better outcome for the Ted Baker employees and stakeholders. It is hopefully some consolation for customers that NODL will continue to trade online and in stores.
“We remain focused on securing a new partner to uphold and grow the Ted Baker brand in the UK and Europe where it began.”
In its statement Authentic did not reveal any details of cuts to jobs or shop numbers.
Ted Baker runs more than 80 shops and concessions in the UK, and in the year ending in January 2022 – the most recent accounts available for the firm – NODL employed 1,288 people. It is unclear how many it employs today.