The fashion retailer’s parent has filed a notice of intention to appoint administrators weeks after a licensing partnership was abandoned, Sky News understands.
Hundreds of high street jobs are at risk after Ted Baker's owner moved to push its British operations into administration. Sky News has learnt that No Ordinary Designer Label, which is owned by Authentic Brands Group and trades under the Ted Baker brand, filed a notice of intention to appoint Teneo Financial Advisory as administrators on Tuesday. The move is expected to result in store closures and job losses, although the scale of both was unclear.
The retailer's torrid period began in 2019 when founder Ray Kelvin left amid claims of inappropriate behaviour towards female colleagues. It was subsequently forced to issue a string of profit warnings and accounting mishaps, having to address the COVID-19 pandemic from a position of financial weakness. In 2020, it axed hundreds of jobs and raised £100m to shore up its balance sheet.
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