Ted Baker administrators update staff on store and website closures

Ted Baker will close all stores, concessions and its website over the coming weeks as discussions with new operating partners have been unsuccessful. Staff were told about the latest plans, which have not been finalised, on Friday, as first reported by The Sun.

Before it collapsed into administration in March, Ted Baker employed 975 people in the UK and Europe and had 46 stores, excluding concessions. Authentic Brands Group acquired the business in 2022 for £211m and converted it to a licensing model.

In an email to head office and store staff, seen by Drapers, the administrators said: "We are sorry to have shared such difficult news. However, we want to emphasise again that this outcome is no reflection of the amazing work and support you have provided these last four months. "

In May, Frasers Group emerged as the frontrunner to take over Ted Baker's British operations however a deal has yet been reached.

The administrators continued: "Unfortunately, the discussions between Authentic and a potential new operating partner have not reached a successful conclusion. As we approach the end of our current stock sale strategy, it has become increasingly clear that an agreement may not be reached in time. If it isn't, there will be no immediate transition to a new operator once the administration strategy is complete.

"We expect to close all our stores, concessions, and Ted.com once the remaining stock has been sold. The anticipated time frame for store closures is between 9th and 21st August, depending on stock levels and ongoing discussions with landlords."

They added that while exact closure dates cannot be confirmed, it is "unlikely" that stores will be operating after August.