Ted Baker is set to close all its UK stores by midweek. This decision comes after months of uncertainty and the collapse of a potential retail licensing deal with Frasers Group. The closures will mark the end of the brand’s physical presence in the UK, with the final trading day expected to be Tuesday. Frasers group deal falls through Despite earlier confidence in a retail licensing agreement with Frasers Group, the deal has now fallen apart. The reasons behind the breakdown remain unclear, as both Authentic Brands Group, the current owner of Ted Baker, and Frasers Group have declined to provide further details. The unexpected turn of events leaves the future of Ted Baker’s presence on the UK high street uncertain. Closure of remaining stores and job losses Administrators at Teneo, who have been managing the business since its collapse earlier this year, will oversee the closure of the remaining 31 Ted Baker stores across the UK. This move is expected to result in the loss of around 500 jobs, adding to the 245 positions that were cut earlier when 15 stores were shut down. Uncertain future for Ted Baker brand With the failure of the Frasers Group deal, the future of the Ted Baker brand in the UK is in doubt. While there was initial interest from other potential licensing partners, including Next and companies from the US, no new developments have been announced. It remains to be seen whether Ted Baker will make a comeback under a new licensing partner or if this marks the end of the brand’s physical stores in the UK.
