Major retailer Ted Baker to shut 15 shops and axe 245 jobs
The company behind the fashion brand’s UK shops, No Ordinary Designer Label Limited (NODL), hired administrators from Teneo last month.
On Monday, they said 11 Ted Baker stores will be shut by the end of next week, with the loss of around 120 jobs.
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Hide AdMeanwhile, around 25 head office workers will also be made redundant in a bid to cut central costs.
The administrators also revealed four further stores will close after landlords served notice on the sites prior to the insolvency.
These stores will shut “in the coming weeks” and result in approximately another 100 job losses.
In late March, Teneo, which was appointed as administrator of No Ordinary Designer Label Limited (NODL), said that the company runs 46 Ted Baker stores in the UK, a website and concessions.
It employed around 975 people in March.
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