News has learned that negotiations between Ted Baker’s owner, Authentic, and Mr. Ashley’s Frasers Group had come to a standstill three months after it seemed like a deal was close to being reached.
The remaining 31 Ted Baker locations in the UK are being closed under the supervision of administrators of the company’s former partner, No Ordinary Designer Label, which failed in the spring.
According to a store insider, they have been informed that Tuesday is the last day of trading.
Just over 500 workers are still employed by the company in Britain, but their careers are in jeopardy.
It has been stated that Frasers Group and Authentic had been in talks about a merger that would involve.
Although sources in the real estate sector said that discussions over the possible reopening of a few Ted Baker locations may have taken place as recently as a few weeks ago, sources close to Authentic emphasized that there were no ongoing negotiations between the two parties.
