Ted Baker heads into administration putting hundreds of jobs at risk

No Ordinary Designer Label (NODL), which trades under the Ted Baker brand, filed a notice of intention today to appoint Teneo Financial Advisory to lead the process of its UK operations, according to Sky News.

Ted Baker has 86 stores in the UK but the number of jobs and shops at risk is unclear.

One source said no redundancies would be announced on day one of the insolvency process, while another source said Ted Baker would continue to trade during the insolvency process.

The news comes after parent company Authentic was reported to be mulling a CVA for the fashion brand after cutting ties with AARC, the Dutch retail group running its business across the UK and Europe.

Authentic acquired Ted Baker in August 2022, after a takeover bid of £211m was accepted after months of speculation.

Authentic chief strategy and transition officer John McNamara 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. It is hopefully some consolation for customers that NODL will continue to trade online and in stores.

“We remain focused on securing a new partner to uphold and grow the Ted Baker brand in the UK and Europe where it began.”

Teneo declined to comment.