Administrators of Ted Baker are planning to close all of its UK stores in the next three weeks.
After the collapse of the business overseeing the UK operations of the fashion retailer in March, 15 stores have already been closed. All remaining store staff have been informed that they will be losing their jobs, as reported by The Sun.
Although the employees have been given this information, the plans are not yet finalized.
Understanding the reasons behind Ted Baker’s store closures
Ted Baker used to operate 46 stores in the UK and had approximately 975 employees before the company went into administration.
Authentic Brands, the US-based company that owns the intellectual property of Ted Baker along with brands like David Beckham, Reebok, and Hunter, has been searching for a new partner to manage Ted Baker’s retail and online presence in the UK and Europe.
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