August 18th 2024.
Ted Baker, the well-known fashion brand that has been a staple on UK high streets for 36 years, is sadly shutting down all of its remaining stores this week. This decision will result in the loss of over 500 jobs as the company, No Ordinary Designer Label, went into administration back in March of this year. The first wave of closures happened in April, where 15 stores were closed and 245 employees were let go. Now, it has been confirmed that the rest of the outlets will also be closing for good.
It's a sad reality that even popular brands like Ted Baker are not immune to the challenges faced by the retail industry. With the rise of online shopping and the impact of the pandemic, it has become increasingly difficult for brick and mortar stores to survive. This has been evident in the fashion brand's struggles over the past few years, with a total of 46 stores being lost in 2024.
The final closures will affect 12 stores in London, as well as locations in Birmingham, Bristol, Glasgow, Manchester, and Sheffield. The full list of stores closing can be found on Ted Baker's website. Some notable closures include the store in Birmingham's Selfridges, Bullring, and Grand Central, as well as the one in London's Brent Cross Shopping Centre.
It's not just in the UK where Ted Baker stores are shutting down. In fact, stores in other countries have also been affected. The brand's outlet in Ashford, Kent has already closed, as well as its stores in Bath, Birmingham, Bracknell, Braintree, Bristol, Cheadle, Cheshire Oaks Designer Outlet, Dartford, Glasgow, Gloucester Quays, High Wycombe, Kingston upon Thames, and many more. It's a difficult time for the brand and its employees.
The administrators, Teneo, had already warned in April that they did not expect the brand to become profitable again. And now, with the final closures, it's clear that the brand's future is uncertain. Joint administrator Benji Dymant stated that while the closures will have a regrettable impact on employees, it will ultimately improve the performance of the business. They are currently in discussions with potential operating partners to bring the Ted Baker brand back to health.
It's a difficult time for all those involved with Ted Baker, including its team members and partners. The brand had already made the difficult decision to axe 160 jobs in 2020, citing a challenging year and the resignation of founder Ray Kelvin as the reason. Kelvin, who formed the company in Scotland in 1988, was accused of misconduct towards female employees in the workplace. Despite denying these allegations, he stepped down from his position.
Ted Baker is not the only retail company to struggle in recent years. Wilko, which also went into administration, will see some of its stores reopen. Carpetright was forced to shut every store, and an iconic group of London pubs could also disappear after going bankrupt. It's a tough time for the retail industry, and unfortunately, not all companies are able to survive. Our thoughts are with the employees and partners of Ted Baker during this difficult time.
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