The high street fashion chain Ted Baker is to close 15 stores across the UK with the loss of 245 jobs after falling into administration.
The company’s European retail and online arm appointed Teneo as administrators last month after the retailer, which has 46 stores in the UK and Europe, struggled with tough trading conditions and the fallout from the 2019 ousting of its founder, Ray Kelvin, after claims of a culture of “forced hugs” at the company. Ted Baker was then hit by the emergence of an accounting error and a string of profit warnings.
