[arista]

[Iconic British brand Ted Baker beloved
by celebrities from Holly Willoughby to
Amal Clooney 'calls in administrators' - putting
86 stores and hundreds of jobs at risk]

https://www.dailymail.co.uk/news/art...jobs-risk.html


https://news.sky.com/story/hundreds-...ators-13097959

[Ammi]

The Ted Baker UK and European retail and online business is set to call in administrators for its UK business in the latest British fashion sector collapse.
Hundreds of jobs are expected to be at risk as an independent director of No Ordinary Designer Label (NODL), the holding company for Ted Baker’s retail and online operations in the UK and Europe, filed for intention to appoint administrators to the business. Parent company Authentic Brands Group, which bought Ted Baker 18 months ago, said the business ended up with “a significant level of arrears”.

“Despite our tireless efforts, the damage done during a period under AARC in which NODL built up a significant level of arrears was too much to overcome,” said Authentic’s chief strategy and transition officer John McNamara.
“We wish that there could have been a better outcome for the Ted Baker employees and stakeholders. It is hopefully some consolation for customers that NODL will continue to trade online and in stores.

“We remain focused on securing a new partner to uphold and grow the Ted Baker brand in the UK and Europe where it began.”


The Telegraph had reported last month that the business was close to collapse, and was considering briging in Teneo for restructuring.
The collapse would be the latest business failure in British fashion, a little over a week after Frasers put retailer Matches Fashion into administration. Other recent high-profile companies to go bust include Hunter Boot andFarFetch. It comes just 18 months after Ted Baker was acquired by Authentic Brands Group. Many more household names in the sector, such as Superdry, have struggled even if they have not collapseded completely.

Authentic also owns brands such as Billabong, Eddie Bauer and Forever 21. It bought Ted Baker, which had previously been publicly traded, in 2022 in a deal worth £211 million. It reportedly stepped in last year with additional help as Ted Baker struggled for funding.
Today’s news comes weeks after the end of its partnership with Dutch firm AARC, which ran Ted Baker’s shops and online business in Europe.

https://www.standard.co.uk/business/...-b1146263.html

[Mystic Mock]

They just didn't strike a pose with their audience it seems.

[Ammi]

…I mainly know them as a concession brand in other independant boutique style shops and in department stores etc… (…and department stores are fading quickly also..)…I only know of one of their own shops locally in Cambridge…I mean, there are obviously more but they’re quite concession based also…

[Ammi]

…oh apologies, Arista…I’ve just seen your thread further down the page…I did check but obviously missed it…hopefully this one can get merged with yours…

[Ammi]

…more job losses, very sad…our town centres and shopping centres are featuring so many empty, closed down premises …with no other retailers able to take them over either…

[Mystic Mock]

I wonder when AI shops will open?

Skynet Supplies will probably be the first, with the slogan being "we'll terminate away all of your troubles."

[LeatherTrumpet]

Originally Posted by Ammi

…more job losses, very sad…our town centres and shopping centres are featuring so many empty, closed down premises …with no other retailers able to take them over either…

that is to do with councils putting up business rates, increasing parking charges to ridiculous charges and introducing silly and pointless ULEZ taxes as well as giving Amazon a free hand to dominate during covid madness

there is zero incentive to visit the high street or open there.

[bitontheslide]

whenever a shop shuts, it seems to be a charity shop that opens in it's place and that's because they get favourable terms. Everything is stacked against the independent shop

[LeatherTrumpet]

Originally Posted by bitontheslide

whenever a shop shuts, it seems to be a charity shop that opens in it's place and that's because they get favourable terms. Everything is stacked against the independent shop

or a money-laundering "Turkish Barber"

[Ammi]

Originally Posted by bitontheslide

whenever a shop shuts, it seems to be a charity shop that opens in it's place and that's because they get favourable terms. Everything is stacked against the independent shop

…or coffee shops/cafes etc is mostly how it is in our local town…they take quite a long while to re-open obviously because of the refit involved…but I was noticing in Norwich also, how many retailers have been closed for a while…and the premises still vacant…