Cambridge branch among 11 Ted Baker stores to close

Administrators have confirmed plans to shut down 11 UK branches of Ted Baker, including the store in St Andrew's Street, Cambridge. On March 22 this year, Benji Dymant and Daniel Smith from Teneo Financial Advisory Limited were appointed as joint administrators of No Ordinary Designer Label Limited, the retailers of the Ted Baker brand in the UK and Europe.

They announced on Monday (April 8) that 11 Ted Baker stores across the UK will be closing, with all locations expected to cease trading by April 19, 2024. This move is anticipated to result in the loss of 120 store roles, reports Bristol Live. Additionally, 25 head office positions have been made redundant due to necessary reductions in central costs.

The stores set for closure are currently operating at a loss and, following a review by the joint administrators, are considered to have no potential for returning to profitability, even with significant rent reductions. Therefore, their closure is seen as a necessary step towards ensuring future profitable trading for the business.

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Alongside the Cambridge store, the branches that will be closed as part of the administration process are:

• Birmingham Bullring

• Bristol

• Bromley

• Exeter

• Leeds

• Liverpool One

• London Bridge

• Milton Keynes

• Nottingham

• Oxford

Authentic Brands Group, the owner of Ted Baker's intellectual property, is currently seeking a new operating partner for the retail and e-commerce business in the UK and throughout Europe.

Benji Dymant, joint administrator, commented: "Ted Baker is an iconic British brand with strong partners around the world. These store closures, whilst with a regrettable impact on valued team members, will improve the performance of the business, as Authentic continues to progress discussions with potential UK and European operating partners for the Ted Baker brand to bring the business back to health. We would like to thank Ted Baker team members and partners for their ongoing efforts and support at this difficult time."

In addition, the joint administrators were informed upon their appointment that landlords had served notice on four more stores in Bicester, London Brompton Road, London (Floral Street), and Manchester Trafford - before their involvement. These stores are set to close in the coming weeks, leading to an additional 100 job losses.

The closure of these outlets is not expected to impact the search for a new operating partner.

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