Ted Baker’s 31 outlets across the UK are set to close this week, only five months after the company’s partner went into administration.
Sky News reported that Tuesday is expected to be the last day of trading after its partner, No Ordinary Designer Label Limited (NODL)’s administrators oversee the closure of the stores.
Currently, Malta has one Ted Baker store at The Point Shopping Mall in Sliema and is represented by Hudson Group.
Speaking to WhosWho.mt, a Hudson spokesperson did not confirm what the next step is for Ted Baker in Malta, but notes that should the brand "decide to close down the Malta store, the present location will change to represent another brand from our portfolio.”
The journey towards the end
Two years ago, the UK brand was purchased by US-based Authentic Brands Group for €242.7 million but was operating its British arm through NODL.
Ever since NODL announced that it would be going under administration in March, 15 Ted Baker outlets were closed. As a result, 245 individuals were made redundant.
Presently, Authentic Brands who are also behind popular Reebok and Juicy Couture, still own Ted Baker’s intellectual property.
Since the insolvency, it had been searching for a new partner to run the retail and online business in the UK and Europe. Talks had progressed with Sports Direct founder and Frasers Group owner Mike Ashley, who was the leading contender, but negotiations have now come to a standstill.
Popular UK brand Next was also reported to have been in talks with Ted Baker’s previous US licensing partner, who expressed interest during early talks.
At this moment, the brand's products are also being sold through department stores and retailers like John Lewis and House of Fraser.
Ted Baker’s downfall started when its founder, Ray Kelvin faced claims of inappropriate behaviour. His successor Lindsay Page and Chairman David Bernstein had resigned the year after issuing a profit warning.
The company was then delisted from the London stock market in 2022 with NODL attributing this to repercussions suffered because of a partnership with Dutch company AARC. It had been operating Ted Baker’s retail stores and website in the UK and Europe.
Following the insolvency, Authentic had remarked that the damage caused by the partnership with AARC was “too great to recover from.”