-

US partner frontrunner to take over Ted Baker UK arm

Ted Baker’s American licensing partner, OSL, is the leading contender to acquire the fashion brand’s struggling UK operations, which include dozens of stores, reports Sky News. This comes after Ted Baker’s previous UK partner, No …

Ted Baker’s American licensing partner, OSL, is the leading contender to acquire the fashion brand’s struggling UK operations, which include dozens of stores, reports Sky News.

This comes after Ted Baker’s previous UK partner, No Ordinary Designer Label (NODL), collapsed last month. The news follows the closure of 15 UK stores with over 200 job losses, a move deemed necessary by administrators to salvage the business’ future.

Next and Frasers Group are also reportedly interested in acquiring the UK arm, although OSL is currently the frontrunner. This news comes 18 months after Ted Baker delisted from the London Stock Exchange following a takeover by ABG.

Axe falls at Ted Baker: 15 stores to shut, 245 jobs will be lost
Ted Baker faces a major shakeup with 15 store closures and nearly 250 job losses across the UK.

Ted Baker’s troubles began in 2019 with founder Ray Kelvin’s departure due to misconduct allegations. The company then faced profit warnings, accounting issues, and the COVID-19 pandemic, all while in a financially weak position.

Despite ABG’s efforts, the damage caused by NODL proved too significant to overcome. They remain focused on finding a new partner to revive the Ted Baker brand in its European birthplace.


Subscribe to Investomania for more business news and updates.

Sign up for Investomania

Subscribe to the Investomania newsletter to have our daily recap delivered directly to your inbox.

No spam. Unsubscribe anytime.