Ted Baker is set to permanently close all 31 of its remaining UK stores in the coming week, following stalled negotiations between the brandâs owner, Authentic Brands Group, and prospective licensing partner Mike Ashleyâs Fraser Group, according to a report by Sky News.
The closures, expected to be completed by the end of Tuesday, will put approximately 500 jobs at risk.
No Ordinary Designer Label, Ted Bakerâs UK holding company, entered administration in March and has already closed 15 stores and laid off several hundred employees.
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British fashion retailer Ted Baker plans to appoint administrators, a spokesperson for owner Authentic Brands Group confirmed on Tuesday, more than a year after it sold itself to the US-based fashion group.
