Luxury brand Ted Baker closes 11 stores, cuts over 100 jobs due to financial difficulties.
Luxury brand Ted Baker is closing 11 stores and cutting over 100 jobs due to financial difficulties. The company, which declared administration last month, states that its entire store portfolio has been "loss-making" and that the sites have no prospect of returning to profitability, even with significant rent reductions. This move follows the brand's acquisition by Authentic Brands Group in 2021.
April 08, 2024
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