Ted Baker stores and jobs 'at risk' as fashion retailer prepares to 'appoint administrators'

Sky News has reported that the fashion retailer’s British operations have ‘veered to the brink of administration’ after a licensing partnership was abandoned.

Ted Baker has stores at Gatwick and Heathrow Airports.

The Sky News report read: “No Ordinary Designer Label, which trades under the Ted Baker brand, filed a notice of intention to appoint Teneo Financial Advisory as administrators on Tuesday.

"The move is expected to result in store closures and job losses, although the scale of both was unclear.

“Although jobs are at risk, no redundancies would be announced on day one of the insolvency process, according to a source.”

Ted Baker, which was bought by ABG for about £210m, delisted from the London stock market in 2022.

Sky stated that its sources said Ted Baker would continue to trade during the insolvency process.