Ted Baker to Close Remaining Stores in UK and Ireland, Resulting in Over 500 Job Losses

 In a significant blow to the British retail landscape, Ted Baker, the once-celebrated clothing chain, will close its remaining 31 stores in the UK and Ireland, resulting in the loss of more than 500 jobs. This decision was confirmed by the company’s administrators on Monday, August 19.

The closures come after Ted Baker entered administration in March due to mounting debts and challenging trading conditions across Europe. The consultancy firm Teneo, which is overseeing the administration process, announced that the store closures will commence on Tuesday, August 20, marking the end of the brand’s physical presence in the region.

This follows the closure of 15 Ted Baker stores in Britain in April, which led to the loss of 245 jobs. Despite efforts to restructure and stabilize the business, the ongoing financial struggles of the brand have led to this unfortunate outcome.

Founded in 1987, Ted Baker has faced several crises in recent years, including a damaging sexual harassment scandal in 2019 involving its founder, Ray Kelvin. The scandal, which resulted in Kelvin's resignation, severely impacted the brand's reputation and contributed to its financial difficulties. In 2022, the brand was acquired by Authentic Brands Group (ABG) for £211 million ($268 million). Despite owning other well-known brands like Reebok and Juicy Couture, ABG has been unable to reverse Ted Baker's fortunes, leading to the current closures.

Separate receivership proceedings are ongoing in continental Europe and North America, where Ted Baker still operates a few stores. The closures in the UK and Ireland mark a significant chapter in the brand's decline, leaving its future on the global stage uncertain.