British Ted Baker worn by celebs including Amal Clooney and Holly Willoughby prepares to appoint administrators, risking hundreds of jobs [Fortune]
ADIDAS AG S/ADR (ADDYY)
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Source: Fortune
The fashion chain has filed a notice of intention to appoint insolvency administrators to No Ordinary Designer Label, the part of the business that runs its shops. Advisory firm Teneo is being lined up to handle the process. Ted Baker's brand and intellectual property is owned by Authentic Brands Group Inc., the US company which is also behind brands such as Reebok. The UK retailer employs almost 1,000 people and has more than 40 stores across the country, alongside a website and department store concessions. Authentic Brands said Ted Baker will continue to operate as normal during the administration. “We remain focused on securing a new partner to uphold and grow the Ted Baker brand in the UK and Europe where it began,” it said in an email. Authentic Brands bought Ted Baker in 2022 in a £211 million ($268 million) deal following a series of profit warnings. It then appointed Dutch company AARC to run the shops. However, Authentic said problems arose under AARC — whose relati
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