Owners call in insolvency experts after warning fashion firm's debts 'too much to overcome' as latest UK chain collapses
Owners call in insolvency experts after warning fashion firm's debts 'too much to overcome' as latest UK chain collapses
John McNamara, chief strategy officer for Authentic Brands Group, said: “We wish that there could have been a better outcome for the Ted Baker employees and stakeholders. “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,” Mr McNamara said.
Authentic had appointed a new independent board to manage Ted Baker operations and would explore ‘all options’ to ensure the future of the business it said.
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