Ted Baker has revealed plans to close 11 stores in the UK after administrators said they have no prospect of returning to profitability.

Benji Dymant and Daniel Smith of Teneo Financial Advisory Limited, who were appointed as joint administrators on 22 March this year, said that the stores are all currently loss making and their closure is a “constructive and necessary step” to ensure the business will deliver a profitable trading performance in the future.

The stores, which include those in Birmingham, Oxford and Leeds, are expected to stop trading by 19 April.

The store closures will result in the loss of around 120 jobs, alongside 25 jobs at the British fashion brand’s head office.

Authentic Brands Group, the owner of the intellectual property of Ted Baker, is currently in the process of finding a new operating partner for the retail and e-commerce business in the UK and across Europe.

“These store closures, whilst with a regrettable impact on valued team members, will improve the performance of the business, as Authentic continues to progress discussions with potential UK and European operating partners for the Ted Baker brand to bring the business back to health,” said Dymant. “We would like to thank Ted Baker team members and partners for their ongoing efforts and support at this difficult time.”

---