Ted baker bankrupt｜Ted Baker in the UK is preparing to enter the receivership process.

Ted Baker in the UK is preparing to enter the receivership process. British media: nearly 1,000 jobs are at risk.

Ted Baker is facing bankruptcy. Earlier, the parent company of the British fashion brand Ted Baker, ABG, confirmed on March 19 that Ted Baker plans to appoint receivers and talked to the media about debt and the difficult retail environment. The “Guardian” pointed out that nearly 1,000 jobs in this brand are at risk. And this brand is developing in a worse direction.

Ted Baker, founded in 1988, is a well-known British boutique brand. Its British elegant style is deeply loved by consumers, and even Kate, Princess of Wales, has worn their designed coats and dresses to attend public occasions. They were acquired by the American brand management company Authentic Brands Group (ABG) for more than 200 million pounds (about NT$8.1 billion) in 2022. But ABG said in March that due to the huge debt, it is necessary to appoint receivers. The latest news indicates that Ted Baker will close 15 stores in the UK, expected to affect 245 jobs.

The Guardian reported that Ted Baker has 46 stores in the UK and Europe and 975 employees. Due to fierce competition in the industry, the founder Ray Kelvin stepped down in 2019 due to improper behavior, and after suffering a series of setbacks, it was acquired by ABG in 2022. ABG owns their intellectual property rights, and No Ordinary Designer Label (NODL) has become the holding company of the brand in the UK. But ABG said that due to the influence of debt, etc., Ted Baker has been taken over by the management company Teneo since last week.

According to reports, Teneo announced that it will close 11 Ted Baker stores including Liverpool and Nottingham before the 19th and lay off 125.