Ted Baker to close 15 stores across UK with 245 jobs cut - full list of closures
Some 11 Ted Baker stores across the country will be closed by the end of next week
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Ted Baker has announced it will close 11 stores across the UK by April 19 in another blow to Britain’s high streets, with another four to close in the coming weeks.
Joint administrators for the clothing retailer confirmed 120 staff roles at affected stores will be impacted by decision.
It is estimated around 25 head office jobs will be made redundant as part of a wider strategy to reduce central costs at Ted Banker.
On top of the 11 store closures, an additional four locations were earmarked for closure before the firm entered administration.
It was forecast there would be around 100 extra redundancies if these Ted Baker sites were to be shut down.
The administration team at Teneo Financial Advisory said the four stores will be closed in the weeks to come.
Has your community been impacted by store closures? Get in touch by emailing money@gbnews.uk.
High streets have been hit by a wave of closures since the pandemic PAHere is a full list of the Ted Baker stores closing down in the coming weeks, according to The Sun:
- Birmingham Bullring
- Bristol
- Bromley
- Cambridge
- Exeter
- Leeds
- Liverpool One
- London Bridge
- Milton Keynes
- Nottingham
- Oxford
- Bicester (notice served before administration process)
- Brompton Road, London (notice served before administration process)
- Floral Street, London (notice served before administration process)
- Manchester Trafford (notice served before administration process)
Last month, Ted Baker’s parent company Authentic Brands Group claimed "damage done" during a deal with another firm was "too much to overcome".
Despite being in administration, the retailer will continue to trade and customer orders will be fulfilled, according to the firm’s owner.
In March, the group was in “advanced discussions” with several possible buyers for the Ted Baker brand.
Authentic is in "advanced discussions" with several potential buyers for the Ted Baker brand, it added.
Currently, Ted Baker has around 975 employees across 46 stores, as well as an e-commerce platform and concessions in department stores.
John McNamara, Authentic’s chief strategy and transition officer, previously shared the group’s regret over Ted Baker plunging into administration.
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Last month, Ted Baker fell into administration
GETTYHe said: "We wish that there could have been a better outcome for the Ted Baker employees and stakeholders."
Mr McNamara said Ted Baker continuing to trade online and in stores will "hopefully [be] some consolation for customers".
The parent company purchased Ted Baker two years ago in a lucrative deal worth an estimated £211million.
This announcement comes amid a wave of store closures from popular high street brands, including The Body Shop.