Authentic Brands Group announces Ted Baker brand sale 

High Street fashion store Ted Baker is set to be put into administration, setting hundreds of jobs at stake.

Introduction:

Authentic Brands Group, the owner of the Ted Baker brand since 2022, has announced plans to sell Ted Baker due to irreparable damage caused during a partnership with another firm. Despite this decision, Ted Baker will continue its operations, fulfilling customer orders as usual.

Potential Buyer Discussions:

Authentic Brands Group is currently engaged in advanced discussions with multiple potential buyers for the Ted Baker brand. While the details of these discussions remain undisclosed, the US group remains committed to finding a suitable buyer for Ted Baker.

Operational Continuity:

Assuring customers, Authentic Brands Group emphasized that Ted Baker will maintain its online and in-store presence throughout the sale process. Despite the uncertainty surrounding the brand’s ownership, customers can expect uninterrupted service from Ted Baker.

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Employee and Stakeholder Consideration:

Acknowledging the impact of this decision on Ted Baker employees and stakeholders, Authentic Brands Group expressed regret over the situation. While specific details regarding job losses were not provided, the group expressed its concern for all those affected by the sale process.

Partnership Fallout:

The decision to sell Ted Baker stems from significant financial difficulties incurred during a partnership with Dutch firm AARC. The fallout from this partnership, which ended in January, resulted in insurmountable damage to Ted Baker’s holding company, No Ordinary Designer Label (NODL).

Ted Baker’s Legacy and Expansion:

Founded in Glasgow in 1988 as a menswear brand, Ted Baker expanded its presence globally with stores in the UK, US, and licensing agreements in Asia and the Middle East. Despite its enduring legacy, Ted Baker’s recent challenges necessitate a change in ownership.

Appointment of Administrators:

In light of the ongoing instability within the firm, Authentic Brands Group plans to appoint administrators to oversee the restructuring process. The selected firm for this role is reportedly restructuring firm Teneo, as confirmed by BBC sources.

Conclusion:

The decision to sell Ted Baker marks a significant development in the brand’s history, reflecting the challenges faced during its recent partnership and subsequent fallout. 

As Authentic Brands Group navigates the sale process, the continuity of Ted Baker’s operations and the welfare of its employees and stakeholders remain key priorities.