Since 2022, Authentic Brands Group has owned the Ted Baker brand. The company said that “damage done” as a result of a tie-up with another company was “too much to overcome.”.
The US group stated that Ted Baker will keep up its business and that orders from customers will be honored.
It further stated that Authentic is in “advanced discussions” with a number of possible purchasers for the Ted Baker brand.
Ted Baker operates 46 storefronts, employs over 975 people, and also has an online store and concessions at department stores.
In a statement, Authentic gave no indication of the number of jobs lost.
Chief strategy and transition officer of Authentic Brands Group, John McNamara, stated, “We wish that there might have been a better result.
The fact that Ted Baker “will continue to trade online and in stores” is “hopefully some consolation for customers,” he continued.
He said that the harm done “was too much to overcome” when Ted Baker’s holding company in the UK and Europe, No Ordinary Designer Label (NODL), “built up a significant level of arrears” during a tie-up with Dutch company news.
The Ted Baker stores and online business in Europe were managed by AARC, and the partnership with them ended in January.
