Ted Baker seems to be preparing for a future without own retail stores. All of its North American stores are closing, as well as its website. Several European branches are following suit.
Continuing without retail
Following the bankruptcy filing of Ted Baker’s British branch in March, the clothing brand is downsizing globally. The company is in receivership and has already closed eleven shops in the United Kingdom. A few weeks ago, it emerged that the label would also close its own Belgian, Dutch and Spanish stores and wanted to place its European retail divisions under receivership.
The Antwerp Enterprise Court has now appointed lawyer Guy Vanhoucke as receiver in the bankruptcy case. The companies include the shop in Huidevettersstraat in Antwerp and the outlet shop in Maasmechelen Village. At the same time, the 31 US shops and nine branches in Canada will close, while the website in both regions will also be taken offline. Trustee Teneo calls it necessary cost-cutting, but still believes in a future for the brand.
Owner Authentic Brands Group is in talks with potential British and European operating partners and says it is close to a deal. The shop-in-shops, wholesale and e-commerce would thus make a relaunch, but perhaps without its own shops.
