The iconic British fashion brand Ted Baker is set to disappear from UK high streets as the remaining 31 stores are scheduled to close this week, putting over 500 jobs at risk. The closure comes after the UK arm of the brand, No Ordinary Designer Label (NODL), entered administration in March.
The closure of the remaining stores is expected to be completed by the end of Tuesday. NODL, which managed Ted Baker's UK operations, previously shuttered 15 stores and laid off 245 employees in April. This latest development leaves 513 UK employees, including those at the brand's head office, facing an uncertain future.
Before its financial troubles, Ted Baker operated 46 stores across the UK, along with an online presence and concessions in department stores. The brand employed approximately 975 people in the UK.
US firm Authentic Brands Group, which owns the intellectual property for Ted Baker, has expressed that the "damage done" to the brand during a previous partnership deal was "too much to overcome." In April, administrators said Authentic was exploring options for a potential licensing partnership in the UK and Europe.
However, according to Sky News, talks for a licensing partnership have stalled, leaving the future of Ted Baker in the UK uncertain. While Authentic Brands Group retains the rights to the brand, the closure of its UK retail presence marks a significant blow to the once-popular fashion retailer.
Ted Baker's journey began in 1988 as a menswear brand in Glasgow. The brand gained international recognition, expanding to the US and securing licensing agreements for stores across Asia and the Middle East. However, Ted Baker has faced a turbulent period in recent years.
In 2019, founder Ray Kelvin resigned following allegations of misconduct, which he denied. This was followed by the departures of his successor, Lindsay Page, and chairman David Bernstein in 2020 after a profit warning.
The closure of the remaining 31 stores, located across England, Wales, Scotland, Northern Ireland, and Ireland, represents a significant loss for the UK retail landscape. These include stores in major cities like London, Glasgow, Manchester, and Dublin, as well as smaller towns.
While Ted Baker's UK stores are closing, the brand's international presence through licensing agreements remains unaffected.
The closure of Ted Baker's UK retail operations is a stark reminder of the challenges facing the fashion industry, particularly in the current economic climate. The fate of the brand in the UK is unclear, leaving many employees facing job insecurity and prompting questions about the future of a once-iconic British fashion name.
