Ted Baker to File for Administration, Hundreds of Jobs at Risk

Ted Baker to File for Administration, Hundreds of Jobs at Risk

Fashion retailer Ted Baker has announced that it will be filing for administration, putting hundreds of jobs at risk. The popular chain, which has stores in Dartford, Ashford, Canterbury, and Bromley, has been struggling financially for some time.

According to reports from Sky News, Ted Baker’s British operations, known as No Ordinary Designer Label (NODL), have filed a notice of intention to appoint administrators. This news comes just weeks after the company ended a licensing partnership.

While the exact number of job losses is currently unknown, it is expected that there will be significant cuts. This comes as a blow to the company, which was bought by ABC for approximately £210 million just 18 months ago. The decision to end the licensing partnership with Dutch company AARC has also contributed to the financial struggles.

John McNamara, the chief strategy and transition officer for ABG, has expressed disappointment at the outcome. He stated, “Despite our best efforts, the damage caused by NODL’s significant arrears during their partnership with AARC was too great to overcome.” However, he also reassured customers that NODL will continue to trade both online and in stores.

The company’s focus now is on finding a new partner to uphold and grow the Ted Baker brand in the UK and Europe. In the meantime, customers can still shop for their favorite Ted Baker items. However, the future of the chain and its employees remains uncertain.

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