FANS of Ted Baker have been left gutted after the iconic high-street brand revealed that all stores across Scotland will close by the end of the day. The major fashion retailer fell into administration back in March after struggling financially for a number of years. 2 Ted Baker shop will close for the final time today Credit: SCOTTISH SUN 2 Signs have started appearing in Ted Baker shops across Scotland this morning Credit: SCOTTISH SUN The luxury brand, which was founded in Glasgow in 1988, was forced to call in administrators and filed a notice of intention five months ago .
No Ordinary Designer Label is owned by Authentic Brands Group (ABG) and trades as Ted Baker . But the firm collapsed after a deal between ABG and a Dutch operating partner, that was meant to run the store operations, went sour. Administrators at Teneo have been desperately trying to find a buyer and were linked with House of Fraser , owned by Mike Ashley’s Frasers Group.
READ MORE IN MONEY PERFECT Spectacular Scots hotel with grand ballroom named best in the WORLD for weddings CHILD’S PLAY Asda shoppers clear the shelves of children’s summer toys scanning for 25p However, it is understood that the firm pulled out after early talks. Ted Baker, known for its suits, shirts and dresses, had around 975 employees and 46 shops in the UK and Europe. Ted Baker is an iconic retailer.
This is terrible news User on X But 245 people lost their jobs after 15 stores across the UK closed for good after the annou.