Ted Baker could disappear from British high streets as the struggling fashion chain plans to shut all its stores within weeks.
The business behind the fashion brand’s UK shops, No Ordinary Designer Label Limited (NODL), entered administration in March.
It has since shut 15 shops in the UK, resulting in about 245 staff being made redundant. Staff working at the remaining shops have been told they will lose their jobs when the shops are shut within three weeks, as first reported in the Sun newspaper.
It is understood that the plans have not been finalised, despite the message to employees.
Ted Baker had 46 UK stores and employed about 975 people before the insolvency.
Authentic Brands, the US-based firm behind Juicy Couture and Reebok, still owns Ted Baker’s intellectual property. It was hoping to find a new partner to run the Ted Baker retail and online business in the UK and Europe.
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The collapse of the UK stores could mark the end of Ted Baker’s position on high streets, after being founded in 1988 by Ray Kelvin and recognised for its patterned and floral clothing. However, the brand is still sold through department stores and retailers such as John Lewis and House of Fraser.