High street clothing retailer Ted Baker is to close 15 stores across the UK and cut 245 jobs.
Stores in Birmingham, Bristol, Liverpool, Oxford, Leeds and Milton Keynes among those planned to shut.
The company behind the brand’s UK shops, No Ordinary Designer Label Limited (NODL), appointed administrators last month.
Eleven loss-making Ted Baker stores will close by 19 April and a further four stores which had already been earmarked for closure will shut “in the coming weeks”. Administrators Teneo said that there was no prospect of returning the stores to profitability, even with significant rent reductions.
When it entered administration, Ted Baker had 46 shops and about 975 employees in the UK, as well as an e-commerce platform and department store concessions.
Joint administrator Benji Dymant, from Teneo, said that the store closures were “regrettable” but would improve the performance of the business.
US-based Authentic Brands Group, which owns the intellectual property of Ted Baker, is seeking a new operating partner to run the brand’s retail and online business in the UK and Europe.
