Ted Baker to Shut Down Stores In Britain, Ireland

Ted Baker, a well-known clothing retailer, will close its remaining 31 stores in the United Kingdom and Ireland, laying off more than 500 staff. 

The corporate administrators verified the news on Monday, August 19. 

The decision comes after Ted Baker declared bankruptcy in March due to mounting debts and difficult trading conditions across Europe. Teneo, the consultant firm handling the administration process, indicated that the store closures will begin on Tuesday, August 20, signaling the end of the brand's physical presence in the region.

This latest setback comes after the closure of 15 Ted Baker stores in Britain in April, resulting in the loss of 245 jobs. The brand's persistent financial troubles have resulted in this terrible consequence, despite efforts to restructure and stabilize the business.

Ted Baker, formed in 1987, has been mired in issues for several years, most recently a severe sexual harassment controversy involving its founder Ray Kelvin in 2019.

The controversy, which resulted in Kelvin's resignation, harmed the brand's reputation and exacerbated its financial woes.

The brand was acquired in 2022 by Authentic Brands Group (ABG) for £211 million ($268 million). ABG, which also owns Reebok and Juicy Couture, has been unable to turn the tide for Ted Baker, 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 uncertain on the global stage.