Ted baker bankrupt|Ted Baker closes 15 stores in the UK and lays off 200 staff.

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Founded in 1988, Ted Baker is a well-known British boutique brand with an elegant British style that is deeply loved by consumers, and even Kate, the Duchess of Cambridge, has worn their designed coats and dresses to attend public occasions. In 2022, they were acquired by the American brand management company Authentic Brands Group (ABG) for more than £200 million (approximately NT$8.1 billion). However, ABG stated in March that due to the large debt, it is necessary to appoint receivers. The latest news indicates that Ted Baker will close 15 stores in the UK, which is expected to affect 245 positions.

According to The Guardian, Ted Baker has 46 stores in the UK and Europe and 975 employees. Due to intense competition in the industry, and the founder, Ray Kelvin, stepped down in 2019 due to improper behavior, after suffering a series of setbacks, it was acquired by ABG in 2022. ABG owns their intellectual property rights, and No Ordinary Designer Label (NODL) has become the holding company of the brand in the UK. However, ABG said that due to the influence of debts, etc., Ted Baker has been taken over by the management company Teneo since last week.

It is reported that Teneo announced that it will close 11 Ted Baker stores including Liverpool and Nottingham before the 19th and lay off 125 positions. Teneo pointed out that even if the rent is significantly reduced, these stores cannot turn from loss to profit. In addition, in order to reduce costs, 25 people in the head office will be laid off. In addition, four stores are also expected to be closed in the short term, affecting 100 positions. Teneo said that ABG is still looking for new partners for Ted Baker's retail business in the UK and Europe.

After entering 2024, due to consumers cutting expenses in the economic recession, many well-known retailers have appointed receivers one after another. Now that Ted Baker has announced to close 15 stores, it has caused another wave of hits to the British retail industry.

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