Ted Baker, the fashion retailer, will close down 15 stores across the UK, resulting in the loss of 245 jobs. The closures are part of the company's efforts to improve its performance and bring the business back to health.
Administrators have announced that Ted Baker will close down 15 stores across the UK. Meanwhile, 245 jobs will also be cut alongside around 25 head office workers. The company behind the fashion retailer 's shops, No Ordinary Designer Label Limited (NODL) hired administrators from Teneo last month. They confirmed that 11 Ted Baker stores will close by the end of next week, with 120 jobs being lost.
Administrators also revealed four additional stores will close after landlords served notice on the sites before the insolvency. Such stores will close "in the coming weeks" while resulting in around another 100 jobs being slashed. Among the stores being closed include the Ted Baker store at the Trafford Centre. Benji Dymant, joint administrator said: “Ted Baker is an iconic British brand with strong partners around the world. "These store closures, whilst with a regrettable impact on valued team members, will improve the performance of the business, as Authentic continues to progress discussions with potential UK and European operating partners for the Ted Baker brand to bring the business back to health. We would like to thank Ted Baker team members and partners for their ongoing efforts and support at this difficult time." Full list of Ted Baker stores closin
Ted Baker Stores Closure Jobs Fashion Retailer Performance Business
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