Next and Sports Direct have both expressed an interest in snapping up Ted Baker’s stricken European arm.
The two East Midlands high street giants have contacted administrators Teneo about taking on certain Ted Baker stores, in a move which will save jobs, The Times reports.
On Monday (8 April) , the business said it would be closing 11 UK stores and slashing head office roles, resulting in 145 redundancies, with an additional 100 redundancies from the stores landlords have served notice on.
A further 25 head office workers at the embattled fashion retailer have also been made redundant due to “a necessary reduction in central costs”, with closing stores set to cease trading by 19 April.
However, The Times says that some stores could be saved in a rescue deal if either Next or Sports Direct comes forward with a favourable offer within the next six weeks.
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Last month, Ted Baker’s UK operator filed a notice to appoint administrators, putting hundreds of jobs at risk.
The move came around 18 months after ABG bought the fashion chain for £211m.
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