British fashion brand Ted Baker considers closing shops in Belgium, the Netherlands and Spain. The retail divisions running operations in those countries may go into administration.
149 jobs at risk
After the UK operating business, insolvency is now looming for Ted Baker’s retail divisions in the Netherlands, Belgium and Spain. According to WWD, local businesses could soon go into administration.
Subsequently, shop closures could be imminent: four shops in the Netherlands and Belgium and seven shop-in-shops in the Netherlands may close soon. Among others, the brand has shops in Antwerp and Amsterdam. In Spain, one flagship store and 15 concessions are involved. A total of 149 jobs are at risk.
In February, parent company Authentic Brands Group ended its partnership with retail company AARC, which ran the shops and webshops in the UK and Europe. Shortly afterwards, the company had to file for insolvency because it could no longer pay the rents in the UK. Authentic Brands did say at the time that it was looking for a new European retail partner.
