The scale of closures is currently unclear (Picture: Reuters)
Hundreds of jobs at high street store Ted Baker are at risk as it plans to appoint administrators.
No Ordinary Designer Label, owned by Authentic Brands Group (ABG), filed a notice of intention to appoint Teneo Financial Advisory as administrators today.
While the scale of closures is currently unclear, there are 86 Ted Baker stores across the UK.
It is the latest UK high street store to give such an announcement after The Body Shop called in administrators last month.
Who owns Ted Baker?
Ted Baker was bought by ABG – Authentic Brands Group – for about £210million 18 months ago and was delisted from the London stock market.
Stores will continue trading while the insolvency period takes place, according to ABG.
A brand licensing partnership with AARC, a Dutch company, was abandoned recently because of a dispute between the parties.
John McNamara, chief strategy and transition officer for ABG said: ‘Despite our tireless efforts, the damage done during a period under AARC in which NODL built up a significant level of arrears was too much to overcome.
‘We wish that there could have been a better outcome for the Ted Baker employees and stakeholders.
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‘We remain focused on securing a new partner to uphold and grow the Ted Baker brand in the UK and Europe where it began.’
The retailer struggled after 2019 following claims of inappropriate behaviour towards female staff from founder Ray Kelvin.
Ted Baker axed hundreds of jobs in 2020 to raise £100million.
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