Ted Baker's UK business calls in administrators, leaving jobs at risk

Ted Baker's UK licensee, No Ordinary Designer Label (NODL), has today called in administrators, leaving hundreds of high street jobs at risk.

Authentic Brand Group (ABG) licenses the Ted Baker brand to NODL in the UK, which has appointed Teneo Financial Advisory as administrators.

The British retailer has filed a notice of intention to appoint administrators just weeks after a licensing partnership was abandoned, according to Sky News. Six weeks ago, it terminated Ted Baker’s contract with AARC, which operated the British-founded brand's retail stores and e-commerce platform in the UK and Europe.

John McNamara, Chief Strategy and Transition Officer, Authentic Brands Group, told TheIndustry.fashion: "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.

"We wish that there could have been a better outcome for the Ted Baker employees and stakeholders. It is hopefully some consolation for customers that NODL will continue to trade online and in stores.

"We remain focused on securing a new partner to uphold and grow the Ted Baker brand in the UK and Europe where it began."

This move is expected to lead to a wave of store closures and job losses. However, sources told the media outlet that Ted Baker would continue to trade during the insolvency process.

It comes just 18 months after US-based Authentic Brands Group, which owns a raft of fashion and activewear brands including Hunter, Juicy Couture and Reebok, acquired the Ted Baker brand for £211 million.

Ted Baker first faced trials and tribulations back in 2019 when its founder Ray Kelvin stepped down after accusations about his treatment of female employees.

This, coupled with pandemic-related losses, caused the business to suffer. By 2020, the company was forced to cut hundreds of jobs and raised £100 million to rebalance its financials.

The news comes after Frasers also appointed administrators to Matches less than three months after buying it from Apax. Following the news, almost 300 Matches employees lost their jobs after Frasers Group confirmed the plans.

Read TheIndustry.fashion's feature 'In History: a timeline of Ted Baker' here.