Ted Baker is ready to completely shut all 31 of its remaining UK shops within the coming week, following stalled negotiations between the model’s proprietor, Genuine Manufacturers Group, and potential licensing accomplice Mike Ashley’s Fraser Group, in response to a report by Sky Information.
The closures, anticipated to be accomplished by the top of Tuesday, will put roughly 500 jobs in danger.
No Odd Designer Label, Ted Baker’s UK holding firm, entered administration in March and has already closed 15 shops and laid off a number of hundred workers.
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British vogue retailer Ted Baker plans to nominate directors, a spokesperson for proprietor Genuine Manufacturers Group confirmed on Tuesday, greater than a 12 months after it offered itself to the US-based vogue group.
