Ted Baker has closed its North-American shops and website amid the embattled chain’s collapse into administration.
It has been reported that 31 of the fashion retailer’s US sites and nine of its Canada shops are shutting, while shoppers across both regions can also no longer use Ted Baker’s website, according to Fashion Network.
Speaking to Drapers, Ted Baker parent company Authentic Brands Group said: “We are close to finalising agreements with new partners to operate Ted Baker’s concessions, wholesale distribution and ecommerce businesses.
“We remain committed to Ted Baker and are optimistic about the brand’s future.”
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The news comes after the company called in administrators to Ted Baker’s UK arm back in March.
No Ordinary Designer Label (NODL) – which licenses the brand in the UK and Europe from Authentic Brands Group – filed a notice to appoint Teneo Financial Advisory to lead an insolvency process of its UK operations.
In April, the firm said it would also close a number of UK shops, leading to 245 job losses at the retailer.
The administrator insisted the closures were a “constructive and necessary step” in ensuring it could deliver “a profitable trading performance in the future”.
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