Nottingham Ted Baker store among 15 to close
245 job losses have been announced at High St retailer
Ted Baker is to shut 15 stores, including a branch in Nottingham, and cut around 245 jobs, administrators have announced.
The company behind the fashion brand's UK shops, No Ordinary Designer Label Limited, hired administrators from Teneo last month.
On Monday, they said 11 Ted Baker stores will be shut by the end of next week, with the loss of around 120 jobs.
Meanwhile, around 25 head office workers will also be made redundant in a bid to cut central costs.
The administrators also revealed four further stores will close after landlords served notice on the sites prior to the insolvency.
These stores will shut "in the coming weeks" and result in another 100 job losses.
Benji Dymant, joint administrator, said: "Ted Baker is an iconic British brand with strong partners around the world.
"These store closures, whilst with a regrettable impact on valued team members, will improve the performance of the business, as Authentic continues to progress discussions with potential UK and European operating partners for the Ted Baker brand to bring the business back to health.
"We would like to thank Ted Baker team members and partners for their ongoing efforts and support at this difficult time."
The administrators said 11 Ted Baker stores will be shut by April 19.
This will affect the following stores:
- Birmingham Bullring
- Bristol
- Bromley
- Cambridge
- Exeter
- Leeds
- Liverpool One
- London Bridge
- Milton Keynes
- Nottingham
- Oxford
The administrators also revealed four further stores will close after landlords served notice on the sites prior to the insolvency.
This will affect the following stores:
- Bicester
- London Brompton Road
- London Floral Street
- Manchester Trafford
These stores will shut "in the coming weeks" and result in another 100 job losses.