British fashion brand Ted Baker faces a significant shakeup as administrators announce the closure of 15 stores across the UK, resulting in a workforce reduction of nearly 245 employees.
This follows the administration of Ted Baker’s UK store operator, No Ordinary Designer Label Limited, last month. The closures, affecting both standalone stores and concessions, aim to streamline operations and eliminate unprofitable locations. Eleven branches will cease operations by April 19th, with four more to follow shortly after.
Mark Rogers
The company cites persistent losses at the targeted stores as the primary reason for closure, suggesting these locations have little chance of becoming profitable even with rent reductions. This restructuring also includes cuts of 25 head office positions to further reduce costs.
Despite the closures, Ted Baker will maintain a presence in the UK with 31 remaining stores and a workforce of 564 employees. In a positive sign for the brand’s future, administrators are actively seeking a new partner to manage Ted Baker’s UK and European retail and online operations.
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