Bankruptcy threatens Ted Baker in Belgium, the Netherlands and Spain

The European branch of British fashion retailer Ted Baker may soon be placed under administration, the Drapers magazine website reports.

The companies that operate Ted Baker stores in Belgium, the Netherlands and Spain are at risk of being placed under judicial administration, with the exact procedure depending on the systems in each of these countries, according to fashion retail specialist Drapers. This would affect two stores in Belgium (Antwerp and Maasmechelen), two stores and seven concessions in the Netherlands, and one store and 15 concessions in Spain. A total of 149 jobs would be at risk. Also according to Drapers, on March 19 restructuring company Teneo was appointed administrator of No Ordinary Designer Label in the UK and Ireland, the entity that operates under the Ted Baker brand and is part of the Authentic Brands Group. As a result of these proceedings, Ted Baker will close 15 of its 46 UK stores in the coming weeks, with the loss of 245 jobs. Earlier, in late January, Authentic Brands Group ended its relationship with Dutch company AARC, which owned and operated Ted Baker’s stores and e-commerce platform in the United Kingdom and Europe.