Ted Baker on brink of collapse with hundreds of jobs at risk [Yahoo! Finance]
ADIDAS AG S/ADR (ADDYY)
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Source: Yahoo! Finance
Authentic Brands Group, which bought Ted Baker for £211m in 2022, said that the retailer had built up “a significant level of arrears”. It blamed “damage done” to the brand under its previous owner AARC, the Dutch company which had been running its stores and e-commerce business in Europe. The arrears were built up as Ted Baker, which is officially known as No Ordinary Designer Label (NODL), faced tough trading in recent years. Authentic Brands owns nearly 50 fashion, sportswear and celebrity brands, including Reebok and a majority stake in David Beckham's business empire . The company makes its money by buying brands and turning them into licences, posting an annual turnover of nearly $30bn (£24bn) last year. Authentic abandoned its deal with AARC in January after it claimed the Dutch company had failed to meet its promise to inject cash into the retailer. Authentic Brands said Ted Baker stores and its website will continue to trade as normal. John McNamara, chief strate
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