Ted Baker Canada, which controls business operations for Ted Baker in Canada, Ted Baker Ltd. in the U.S., and Brooks Brothers and Lucky Brands in Canada, has begun store closing sales across select locations. As of May 10, the retailer also ceased ecommerce sales “for the time being,” according to a statement, and noted that all stores sales are final.
In August 2022 Authentic Brands Group (ABG) bought Ted Baker for approximately $245 million, but the brand struggled to find its footing in the highly competitive luxury apparel market. In March 2024 Ted Baker went into administration, the UK version of bankruptcy, according to Retail Detail. ABG blamed AARC, the Netherlands-based licensee that managed Ted Baker’s European operations until the end of January 2024, for the failure.
Frasers Group is close to acquiring Ted Baker’s UK and European retail operations, according to Fashion Network.
Advertisement
