The administrator of the company behind fashion chain Ted Baker has announced the closure of 15 stores across the UK, resulting in about 245 redundancies.
The company behind the fashion brand’s UK shops, No Ordinary Designer Label Limited (NODL), hired administrators from Teneo last month.
The retail giant currently has 86 locations in the UK, which include 29 standalone branches and 35 concessions, including 25 located in John Lewis department stores, as well as seven airport stores and eight Ted Baker outlet stores.
The brand has picked up impressive celebrity endorsements including Holly Willoughby, Amal Clooney, Amanda Holden, Emma Stone and Myleene Klass.
But administrators have confirmed some sites across England will pull down their shutters within days.
Eleven shops will be closed by April 19 across Birmingham, London, Cambridge and Liverpool – resulting in 120 staff losing their jobs.
About 25 head office roles will be made redundant as a result of plans to reduce central costs at the fashion chain.
The administrator of the company behind fashion chain Ted Baker has announced the closure of 15 stores across the UK, resulting in about 245 redundancies
A further four stores were earmarked for closure prior to the firm entering administration, it has been revealed, which will result in about 100 additional redundancies.
These four stores will be closed in the coming weeks, according to the administration team at Teneo Financial Advisory.
The following branches are set to close within days: Birmingham Bullring, Bristol, Bromley, Cambridge, Exeter, Leeds, Liverpool One, London Bridge, Milton Keynes, Nottingham, Oxford, Bicester, Brompton Road, London, Floral Street, London and Manchester Trafford.
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.’
