Wednesday, May 29, 2024

East Midlands retailers show interest in Ted Baker rescue

Retail giants Next, based in Leicester, and Frasers Group, based in Shirebrook, have reportedly shown interest in snapping up fallen fashion brand Ted Baker’s European arm.

Both companies, which have a history of acquiring troubled retailers, are understood to have contacted administrators at Teneo Advisory, according to The Times, to explore a sale of all of or parts of Ted Baker.

This week Teneo revealed the closure of 15 Ted Baker stores in the UK, including in Nottingham, and the cutting of head office roles, seeing the loss of 245 jobs.

Each store is said to currently be loss making, with administrators saying there is no prospect of a return to profitability.

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemic having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £33.60 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.

Latest news

Related news

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.