Ted Baker, UK fashion retailer, faces potential administration due to failed ABG partnership and debts; 1,000 jobs at risk.
Ted Baker, a UK fashion retailer, is facing potential administration due to a failed partnership with Authentic Brands Group (ABG) and significant debts. The move could lead to the loss of 1,000 jobs and store closures. ABG states that Ted Baker stores and its website will continue to operate during the administration process. The brand, founded by Ray Kelvin in 1988, reported a £43 million pre-tax loss in 2022 on sales of nearly £320 million.
March 19, 2024
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