The Ted Baker store in Cambridge is among 15 of its shops that will close,administrators have confirmed.
About 245 jobs are set to be axed as a result of the closures and cuts to the fashion brand’s head office.
The Cambridge store, in St Andrew’s Street, is one of 11 that will close by April 19.
The others are in:
– Birmingham Bullring
– Bristol
– Bromley
– Exeter
– Leeds
– Liverpool One
– London Bridge
– Milton Keynes
– Nottingham
– Oxford.
These closure will lead to the loss of about 120 jobs.
The administrators revealed that a further four stores will close after landlords served notice on the sites prior to the insolvency. These are in Bicester, London Brompton Road, London Floral Street, Manchester Trafford. These stores will shut “in the coming weeks” and result in another 100 job losses.
And 25 jobs will go at the head office of the fashion brand.
Prior to the insolvency, Ted Baker had 46 UK stores and employed 975 people.
The operating company behind Ted Baker's UK shops, No Ordinary Designer Label (NODL), hired administrators from Teneo last month to examine the stricken retail business.
The administrators have earmarked loss-making stores for closure which they believe “have no prospect of being returned to profitability, even with material rent reductions”.
US-based Authentic Brands owns Ted Baker’s intellectual property and is seeking a new partner to run the Ted Baker retail and online business in the UK and Europe.
