Administrators for struggling fashion retailer, Ted Baker, have said that 15 stores in the UK are set to be closed, with 245 jobs expected to be cut.

The holding company for the brand in the UK, No Ordinary Designer Label appointed administrators last month, with Ted Baker’s intellectual property owners, Authentic Brands Group, stating that a tie-up with a Dutch firm was "too much to overcome" after it built up a significant level of arrears.

The BBC has reported that 11 stores will close by 19 April, with 120 job losses. These stores are located in Birmingham Bullring, Bristol, Bromley, Cambridge, Exeter, Leeds, Liverpool One, London Bridge, Milton Keynes, Nottingham and Oxford.

Furthermore, 25 roles will be cut from the company's head office and four stores, in London (Brompton Road and Floral Street), Manchester Trafford and Bicester, that had been set to close prior to administration, are also set to close in the coming weeks, affecting 100 positions.

Before entering administration, Ted Baker employed around 975 people in the UK and ran 46 shops, as well as department store concessions and an e-commerce platform.

Head of financial analysis at AJ Bell, Danni Hewson, said: "Ted Baker has been trudging uphill since before the pandemic and what appeared to be salvation in the form of a takeover by the US firm responsible for brands like Juicy Couture and Reebok didn’t quite work out, with responsibility for running the UK shops farmed out.

"For a while Ted Baker had that special ingredient that made the brand iconic. However, it will need focus and heart from whoever rescues what’s left of the company from administration. Its brand does still chime with consumers, but the sound is dull and for many younger shoppers their engagement is limited to fragrance and underwear.

"Next already has a relationship with the brand and no one would be surprised to see it subsume the company into its family, especially now the business has been slimmed down. But the high street will be poorer for the loss and the fate of Ted Baker is a stark reminder of how vulnerable the sector is."

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