Ted Baker is cutting 245 corporate and store jobs as the U.K. segment goes through administration.
administrators plan to shut 11 unprofitable stores and lay off 145 shop floor and head office staff as they unwind the company’s U.K. and European business.stores will shut at the request of their respective landlords, with a further 100 jobs set to be lost. In total, 15Judith Leiber to Create a Furniture Collection That Pays Homage to the Brand's Signature Bags
They added the 11 stores earmarked for closure as part of the administration process are loss-making and, “have no prospect of being returned to profitability, even with material rent reductions.” The 11 unprofitable stores are located in cities such as Birmingham, London and Leeds, and university towns such as Oxford, Cambridge, Nottingham and Exeter. , which owns the intellectual property of Ted Baker, is in the process of finding a new operating partner for the retail and e-commerce businesses in the U.K. and Europe.
Authentic had signed a partnership deal with AARC in April 2023 to operate Ted Baker’s 120-plus retail stores and concessions, and the brand’s online business.
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