Ted Baker Faces Administration: High Street Icon’s Future Hangs in the Balance

High Street staple Ted Baker faces administration, putting hundreds of jobs at risk.

Following a tumultuous tie-up with another firm, Ted Baker’s brand owner, Authentic Brands Group, concedes defeat due to irreparable damage.

Despite the impending administration, Ted Baker will continue operations, ensuring customer orders are fulfilled, Authentic Brands Group reassures.

Potential buyers are being courted for the Ted Baker brand, as Authentic Brands Group seeks to salvage the situation.

With nearly 975 employees and a network of 46 stores, plus online presence and concessions, Ted Baker’s future hangs in the balance.

John McNamara, Chief Strategy and Transition Officer of Authentic Brands Group, expresses regret over the outcome for Ted Baker’s employees and stakeholders.

While Ted Baker will persevere online and in stores, its UK and Europe holding company, No Ordinary Designer Label (NODL), faces insurmountable challenges stemming from its partnership with Dutch firm AARC.

The partnership’s dissolution in January exacerbated Ted Baker’s financial woes.

Founded in 1988 in Glasgow, Ted Baker’s once-thriving presence in the UK and US has faced turbulence, with licensing agreements in Asia and the Middle East.

Authentic Brands Group’s acquisition of Ted Baker in a £211 million deal in 2022 now appears overshadowed by the brand’s struggles.

The decision to appoint administrators, reportedly restructuring firm Teneo, reflects the company’s prolonged instability.

Ted Baker’s woes escalated in 2019 with founder Ray Kelvin’s resignation amid misconduct allegations, including “forced hugging.”

Subsequent leadership changes and a profit warning further destabilized the brand, compounded by a stock plunge following an accounting error.

Ray Kelvin’s return in an advisory capacity did little to quell the turmoil surrounding Ted Baker.