Hundreds of jobs at risk as Ted Baker calls in administrators

The US owner of Ted Baker said it plans to appoint administrators for the fashion retailer, putting hundreds of jobs at risk.

The first store was opened by founder Ray Kelvin in Glasgow in 1988 and went onto become a globally recognised fashion brand.

Authentic Brands Group (ABG), which bought the retailer in 2022, has filed a notice of intent to appoint joint administrators.

The US group cited “damage done” to the fashion brand during the time Dutch company AARC had been running its Ted Baker stores and e-commerce business in Europe – a tie-up that ended in January.

Authentic Brands said Ted Baker stores and the retailer’s website would continue to trade.

John McNamara, chief strategy and transition officer for Authentic Brands Group, said: “We wish that there could have been a better outcome for the Ted Baker employees and stakeholders.

“We remain focused on securing a new partner to uphold and grow the Ted Baker brand in the UK and Europe where it began.”

Ted Baker has a store on Glasgow’s Buchanan Street and an outlet in Livingston.

In September 2022, Ted Baker announced that its shareholders had overwhelmingly approved a £232m takeover offer that would see the business go private.

It meant the fashion retailer would be bought by Authentic Brands, which owns Forever 21 and Reebok, after Ted Baker put itself up for sale amid troubles following the global Covid outbreak.

The brand was among luxury retailers hammered by the pandemic, but it had also gone into Covid in a weak spot following years of decline and was in the middle of a plan to revamp the business.

Founder and chief executive Ray Kelvin stepped away from his position after accusations of inappropriate behaviour.

Mr Kelvin, who denies the allegations, remains a shareholder in the business which he set up in Glasgow in 1988.

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