Clothing retailer Ted Baker is reportedly shutting all 31 of its remaining UK stores, putting around 500 jobs at risk.
According to a report by Sky News, the move follows the breakdown of a potential licensing partnership with Mike Ashley’s Frasers Group and Authentic Brands Group, which owns the intellectual property of Ted Baker.
Stores will close on Tuesday 20 August, a source told Sky News.
Retail Systems has reached out to Ted Baker for comment.
In April, Ted Baker revealed plans to close 11 stores in the UK after administrators said they had no prospect of returning to profitability.
The store closures resulted in the loss of around 120 jobs, alongside 25 jobs at the British fashion brand’s head office.
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 were all loss making.
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Supplying demand: how fashion retailers can meet the needs of customers and still be sustainable
The fashion industry is no stranger to breaking the mould and setting trends, but the pursuit of style can come at a huge cost to the environment.
New legislation, such as the European Union's Ecodesign for Sustainable Products Regulation, will set mandatory minimums for the inclusion of recycled fibres in textiles, making them longer-lasting and easier to repair.
New legislation, such as the European Union's Ecodesign for Sustainable Products Regulation, will set mandatory minimums for the inclusion of recycled fibres in textiles, making them longer-lasting and easier to repair.
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