
- Ted Baker is closing stores in another European country. Many people will lose their jobs.
- The brand follows the path of Esprit and the Body Shop.
Ted Baker closes in the UK
Hundreds of British workers have already been told they will lose their jobs. The fashion brand's British retail arm went bankrupt in March, after which the brand also collapsed internationally. Stores in Belgium, the Netherlands and Spain were closed, and the remaining European retail branches were declared bankrupt.
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The brand's owner, Authentic Brands, wants to continue operating under this banner, but is looking for new operating partners. The deal seemed close to closing in May, but by then it was clear that Ted Baker could continue operating without its own stores and focus solely on shop-in-shops, wholesale and e-commerce.
A new idea for sale
As retaildetail.eu notes, Ted Baker follows in the footsteps of Esprit and The Body Shop. While brands until recently focused on their own retail branches with large flagship stores, these expensive-to-maintain brick-and-mortar locations are now increasingly being closed down.
The fashion industry is facing many adversities, many chains have already given up. Only recently, the bankruptcy was announced by: the Belgian fashion house Duror Fashion Group, owner of the Terre Bleue, Gigue and Zilton brands; Dutch Scotch & Soda and Hong Kong-German Esprit.