Ted Baker’s remaining stores will close permanently this week amid growing doubts over a future licensing deal with Mike Ashley’s Frasers Group.
Sky News reported that negotiations between Frasers Group and Ted Baker owner Authentic, have stalled three months after a deal seemed imminent.
Administrators to the fashion retailer’s existing partner, No Ordinary Designer Label (NODL), which collapsed in the spring, are now overseeing the closure of its remaining 31 UK shops.
One store source said they had been told that this Tuesday would be the final day of trading.
Frasers Group is reported to have been in discussions with Authentic about a deal that encompasses both Ted Baker and Reebok.
Sources close to Authentic indicated to the publication that no discussions are currently underway between the two parties.
However, property industry insiders suggested that talks about potentially reopening a small number of Ted Baker stores had occurred as recently as the past few weeks.
If a deal were to have been struck, it would have added the fashion retailer to Ashley’s empire of brands, which includes Sports Direct, Evans Cycles, Gieves & Hawkes, House of Fraser and Jack Wills.
Next was also said to be in the running for a deal back in April, while Ted Baker’s former US licensing partner, OSL, showed interest early in the process.
NODL’s administrator, Teneo, was forced to close 15 Ted Baker stores in the spring with the loss of more than 200 jobs.
Click here to sign up to Retail Gazette‘s free daily email newsletter
