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.

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