Onward
Ted Baker Set to Shut Down All Its Stores in the UK Within 3 Weeks
The administrators of Ted Baker are making arrangements to cease operations of all its UK outlets over the course of the next three weeks.
Following the collapse of the company managing the UK sector of the fashion retail chain back in March, a total of 15 stores have already been shuttered. The remaining staff in these stores have been notified about the impending loss of their jobs, as disclosed by The Sun.
While the employees have been apprised of this development, the exact details of the plan are yet to be finalized.
Delving into the Causes for Ted Baker’s Store Closures
Ted Baker previously managed 46 retail outlets in the UK and had an estimated staff strength of around 975 individuals before entering the administration phase.
Authentic Brands, an American firm holding the intellectual property rights of Ted Baker as well as other popular brands like David Beckham, Reebok, and Hunter, has been actively seeking a new collaborator to oversee the retail and online presence of Ted Baker in the UK and Europe.
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