By the end of Tuesday, all Ted Baker stores are expected to close for good.
On Sunday, the well-known fashion brand Ted Baker announced it will close its last 31 stores in the UK and Republic of Ireland this week, putting over 500 jobs at risk.
According to the BBC, the closures follow the financial trouble of No Ordinary Designer Label (NODL), the company behind Ted Baker's UK operations, which went into administration in March. In April, administrators closed 15 stores and cut 245 jobs to try and manage the company’s financial problems.
Clive Black of Shore Capital described Ted Baker's downfall as a "long-running corporate car crash", calling it a "rags to riches to rags story" in British fashion.
He expressed sympathy for the hundreds of employees now facing unemployment, saying it’s a "dark time" for those affected.
Before this, Ted Baker had around 975 employees in the UK and operated 46 stores, as well as an online shop and concessions in department stores. NODL, which now manages 513 employees, had struggled to keep the brand going after years of instability and falling sales.
The intellectual property rights to Ted Baker are owned by the US-based Authentic Brands Group, while NODL was handling the brand's UK operations.
When NODL went into administration, Authentic Brands Group said the damage from a previous business partnership was too severe to fix. Talks were ongoing with potential UK and European partners to keep the Ted Baker brand alive, but these discussions seem to have stalled.
The History of Ted Baker
Ted Baker began as a menswear brand in Glasgow in 1988. Over time, it grew into a global fashion name with stores across the UK, the United States, and other international locations.
However, the company has faced challenges in recent years, starting with the resignation of founder Ray Kelvin in 2019 following allegations of misconduct, which he denied. Kelvin's departure was followed by a series of leadership changes and profit warnings that further destabilized the brand.
Retail analyst Catherine Shuttleworth pointed to a "lack of investment combined with disappointing sales" as key factors in Ted Baker’s decline, suggesting that customers had moved on to other brands.
The closures will affect Ted Baker stores in locations such as London’s Regent Street, Manchester Shambles, and several major airports, including Heathrow and Gatwick.
The brand’s licensing agreements for stores in Asia and the Middle East will not be affected.
As of Sunday, Ted Baker’s UK retail website displayed a "Goodbye for now" message, telling customers it was no longer taking orders and allowing 14 days for returns.
