Established in 1987, renowned fashion brand Ted Baker is undergoing significant restructuring amidst financial challenges. Owned by the entity, No Ordinary Designer Label (NODL), the brand is restructuring its operations under the leadership of administrators from Teneo. It aims to close approximately 15 stores across the UK besides eliminating around 245 jobs.

By the end of the following week, Ted Baker plans to close 11 of its stores, resulting in around 120 job losses. These include stores in prominent locations such as Birmingham Bullring, Bristol, and London Bridge, among others. 

Additionally, the company will terminate around 25 head office positions to reduce central costs.

Further exacerbating the situation, four additional stores are slated for closure in the coming weeks due to landlords terminating leases. This move will lead to approximately 100 more job losses. These stores, including locations like Bicester and London's Brompton Road, are deemed unprofitable, even with potential rent reductions.

The decision to undergo such restructuring was partially attributed to difficulties stemming from a partnership with the Dutch company AARC Group, which resulted in significant financial arrears. NODL terminated this partnership in January after AARC failed to fulfill its commitments to inject capital into the business.

Despite the challenges, Authentic Brands, the owner of Ted Baker's intellectual property, remains committed to revitalising the brand. They are actively seeking new partners to manage Ted Baker's retail and online operations in the UK and Europe. Prior to the restructuring, Ted Baker operated 46 stores in the UK and employed approximately 975 individuals.