By the end of Tuesday, August 20, all of the fashion brand’s outlets are expected to be shuttered. No Ordinary Designer Label (NODL), the company operating Ted Baker’s UK shops, succumbed to administration in March of this year.
In a move that saw 15 stores close and 245 jobs slashed in April 2024, the brand’s decline was labelled a “long-running corporate car crash” by one analyst.
“Ted Baker is a rags to riches to rags story of the British rag-trade, a great shame,” Shore Capital’s Clive Black commented to the BBC, noting it as a “dark time” for the employees facing unemployment.
Prior to its collapse, Ted Baker employed approximately 975 staff in the UK, managing 46 stores, an online platform, and concessions in department stores.
Presently, NODL has 513 UK staff across Ted Baker’s retail locations and its head office.
The intellectual property rights of Ted Baker are owned by US-based Authentic Brands Group, while NODL held the brand’s operations within the UK.
Authentic Brands Group stated that the “damage done” from a previous partnership was “too much to overcome” when NODL entered administration in March.
Administrators announced in April that Authentic was engaging in “discussions with potential UK and European operating partners for the Ted Baker brand”.
Sky News stated on Sunday that discussions regarding a potential future licensing partnership had reached an impasse.
Ted Baker, originating as a menswear brand in Glasgow in 1988, expanded to have stores across the UK and the United States, with licensing agreements for shops in various cities in Asia and the Middle East.
However, the brand has experienced instability over the past few years, beginning in 2019 when founder Ray Kelvin stepped down following allegations of misconduct, which he refuted.
The following year saw the resignation of his successor Lindsay Page and chairman David Bernstein after a profit warning was issued.
“From a modern, aspirational and distinctly British snazzy brand, Ted Baker never recovered from allegations of inappropriate behaviour, leading to a prolonged period of withering on the vine”, commented analyst Clive Black.
Retail analyst Catherine Shuttleworth informed the BBC that despite the brand’s long-term strength, a “lack of investment combined with disappointing sales” led shoppers to seek inspiration elsewhere, making the brand’s “ongoing survival difficult”.
The 31 stores that are closing are located in: Ashford, Bath, Belfast, Bluewater shopping centre in Kent, Braintree, Brent Cross in London, Bridgend, Cannock, Cheshire Oaks, Dublin, Grafton Street, Gatwick North, Gatwick South, Glasgow Buchanan Street, Gloucester Quays, Heathrow T2, T3, T4, T5, Kildare, Livingston, Luton, Manchester Shambles, O2 Outlet, Portsmouth, Regent Street in London, Sheffield, St Pancras in London, Stansted, Swindon, White City in London, and York.
Ted Baker bid a farewell to its UK customers by displaying the message “Goodbye for now” on its website, informing patrons they have 14 days to return items and noting that it is “not taking orders right now”.
However, the company’s licensing agreements for stores in Asia and the Middle East remain unaffected by these changes.