Ted Baker in redundancy consultation with head office staff
Ted Baker is carrying out a redundancy consultation with staff at its head office with some 30 roles across marketing and merchandising said to be at risk.
The move follows the acquisition of the British fashion and lifestyle brand by American fashion group Authentic Brands Group (ABG) in October.
A spokesperson for Ted Baker said the redundancy consultation, which is part of a strategic review being carried out at the retailer's head quarters, was driven by the economic climate in the UK. No store staff are affected by the move.
“Due to the current macroeconomic challenges in the UK, we’re having to make some difficult decisions at Ted Baker to reshape our business for the future. As part of this, we will be entering into a period of consultation with some of our UK team members, excluding those working in our retail stores.
"We’re sad to have to take this action and will be supporting our team members throughout the process. We remain confident in our long-term prospects under new ownership and that we are well-positioned to continue providing our customers with a great product and great service," the spokesperson said.
Ted Baker spent much of last year dealing with a takeover process after US private equity house Sycamore Partners made an unsolicited bid early in 2022. The move sparked a sale process from which Sycamore eventually dropped out and ABG, which owns brands such as Reebok and Juicy Couture, eventually agreed a £211m deal in August. The buy was then finalised in October.