By the end of today, there will be no more Ted Baker stores on Britain’s high street, three and a half decades after the iconic fashion brand first opened its doors in Glasgow.
After nearly four decades of presenting fashion with distinctive designs, Ted Baker’s last 31 stores in the UK and Ireland will close their doors forever. The fashion brand’s online presence has already disappeared.
The celebrated store was originally opened in 1988 by Ray Kelvin and quickly became known for its signature patterns and florals.
READ MORE: Ted Baker announces that all 31 remaining stores – including the Manchester city centre branch – will close this week
Susannah Streeter, head of finance and markets at Hargreaves Lansdown, said of the closure that the chain’s nationwide boutiques had “come to a sad end in a very difficult environment for fashion retail”.
Complications arose for Ted Baker when No Ordinary Designer Label Limited (NODL), the company that runs its UK stores, filed for insolvency in March, casting a shadow over the retailer’s future. In the wake of the turmoil, Authentic Brands, which holds the intellectual property rights to Ted Baker, said that despite “tireless efforts”, it had not been able to “overcome” the company’s financial challenges.
Authentic has also cited its partnership with Dutch company AARC Group as part of the difficulties, pointing to the “damage” caused and the accumulation of significant arrears during this period.
Ted Baker had previously admitted that economic pressures, falling consumer demand and supply chain bottlenecks were tough for the company. The label was also one of the luxury brands that came under pressure during the Covid pandemic.
Commenting on the brand’s evolution, Ms Streeter said: “Ted Baker entered the fashion industry spotlight with bespoke collections that quenched the thirst for luxury among mid-price shoppers. Although lockdowns were a bad dream for many retailers, they were a nightmare for Ted Baker, as the company was heavily reliant on evening and occasion wear and could not rely on an effective online business.”
She added: “The cost of living has put additional pressure on fashion budgets, especially with online fashion giants like Shein offering highly creative garments at a fraction of the price.”
The closures put hundreds of jobs at risk. Around 513 NODL employees across the UK and at head office, and 78 in Ireland, are expected to be affected by the remaining closures. Earlier this year, around 245 staff were made redundant after 15 stores closed.
Ted Baker’s UK website was also taken down, informing customers that “no orders are currently being accepted” and that they had 14 days to return orders placed online.
Authentic had previously expressed hopes of finding new UK and European partners to manage the Ted Baker brand, which is currently sold through department stores and retailers such as John Lewis and House of Fraser. There had been rumours of a possible licensing partnership with Mike Ashley’s Frasers Group, but it is believed the two companies are no longer in talks.
Authentic, the US-based company also responsible for global brands such as Juicy Couture and Reebok, bought Ted Baker for £211 million in 2022. There was no comment this week on the confirmed store closures.
Despite the government in the UK and Ireland, Ted Baker has over 30 unaffected licensing partners worldwide with partnerships in North America, Asia and the Middle East.
