Ted Baker owner Authentic Brands has stepped in after the company it appointed to run its UK operations has struggled to raise financing.
The group paid £211m for the fashion retailer’s brand and intellectual property last year and has outsourced its global operations to over 20 different companies.
According to The Times, Authentic has provided retail management business AARC – which handles Ted Baker’s stores and online business in the UK and Europe – a short-term loan to provide stable footing for the brand.
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It is understood that AARC had been working with advisors from FTI Consulting for a few months to arrange a longer-term financing for the brand.
Ted Baker axed approximately 200 head office jobs across sourcing, finance, production, and footwear in June as it shifted to a new outsourcing model.
Authentic has quickly become a £16.5bn brand management and licensing powerhouse, with the likes of Forever 21, Juicy Couture and Reebok in its portfolio.
The group acquired the intellectual property of footwear retailer Hunter in June in a deal estimated to be worth around £100m.
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