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Daily Mail
5 days ago
- Business
- Daily Mail
Beloved fashion brand 'to return to the high street' after closing all of its 46 UK stores
One of Britain's most beloved fashion brands is reportedly set to make a dramatic high street comeback. Ted Baker, once a retail juggernaut, financially imploded last year and shut all of its 46 remaining UK stores. It came after the firm behind company's British shops, No Ordinary Designer Label (NODL), fell into administration in March last year, with administrators closing 15 shops and cutting 245 jobs. However, reports suggest Ted Baker could now make a triumphant return in a matter of months. The fashion house relaunched its website in November 2024. And now, according to The Sun, the retailer is eyeing up a physical return to the high street - with a new store opening in London in early 2026. Exact details of the potential bounce back have not yet been revealed. MailOnline has contacted Ted Baker for comment. Ted Baker started as a menswear brand in 1988. At the height of its fashion powers it had 550 shops and concessions worldwide. Its smart, boutique-style shops, often in pretty Victorian streets rather than huge malls, attracted shoppers who wanted mid-market stylish attire that was a cut above the likes of TopShop, Oasis and River Island. It was founded by Ray Kelvin - who famously quit in 2019 after being accused of enforcing a 'hugging' culture at the company. North Londoner Kelvin had started working in his uncle's Enfield menswear shop aged 11 and gone on to found the Ted Baker brand after success with a men's shirts shop in Glasgow. The range of shirts in his Scottish city store - in every colour of the rainbow - became a huge hit in the 'acid house' era of the 1990s, as clubbers wanted to stand out under the strobe lights. More shops quickly followed - in Manchester's King Street and Nottingham Exchange Arcade - and as the 90s rolled on, the brand quickly branched out into other departments, eventually selling everything from womenswear, childrenswear, shoes, fragrance and watches to glasses, wedding attire, bedding and lingerie. The womenswear became known for soft florals, and became a go-to for summer dresses, but shoppers could happily pick up a sharp suit for the office too - and a pair of heels for less than £100. By 1998, Ted Baker had opened its first store in the US, with a shop in New York - and carved out a partnership with American department store Nordstrom. The brand has always employed the power of celebrity too, with early ambassadors including football, rugby and music stars. In 2016, Guy Ritchie created a 'shoppable film' to promote the 2016 autumn/winter collection - which carried the strapline 'Spy it. Click it. Buy it'. In more recent years, Holly Willoughby, Amal Clooney, Amanda Holden, Emma Stone and Myleene Klass have all worn the brand. The Princess of Wales famously wore a navy Ted Baker trench during the then Duke and Duchess of Cambridge's Canada tour in July 2011. However, the retailer hit a slump as more people turned towards online stores and away from the high street. Before it collapsed, it had shrunk from more than 500 outlets to just 46 shops, employing around 975 people. American firm Authentic Brands Group still owns the intellectual property for Ted Baker, having acquired the brand for £211million in October 2022. News of Ted Baker's potential high street revival comes at it was revealed this week River Island was facing collapse within a matter of weeks. Hundreds of jobs at the company are now hanging in the balance as the struggling retailer battles for survival following a slump in trading. In an attempt to save the fashion chain from shutting up shop, bosses have proposed a plan to hand the keys back on 33 stores. As part of the rescue deal, the company aims to try and slash rents on a further 71 shops and write off a series of debts to stave off a severe liquidity crisis. The sweeping proposals - put together by accountancy firm PwC, which is advising the retailer - will be put to the High Court next week. Should it receive the blessing of three quarters of the company's creditors, it will unlock an emergency loan from River Island's billionaire founders, the Lewis family, to help the struggling retailer to pay its bills. However, if the proposal is rejected, it could plunge River Island into an irreversible financial crisis which will see it run out of cash by the end of August, leaving it 'unable to pay its debts as they fall due', the company has reportedly told creditors. According to the Telegraph, in a stark warning laid out in the restructuring plan, River Island 'will not be able to continue trading as a going concern' and 'would be subject to administration or other insolvency proceedings'. An 800-page report compiled by the retailer's advisers, PwC, reveals the fashion house faces a £10million 'funding need' in the second week of September, which financial experts warn will skyrocket to £50million before Christmas. PwC must now convince at least 75 per cent of River Island's creditors to support is bail out proposal. The plan would allow the fashion giant to walk away from a string of debts, including tens of millions of pounds owed landlords from outstanding debts. Among those landlord affected by the restructuring deal are British Land, the Crown Estate and Mike Ashley's Frasers Groups. Councils nationwide would also be on the list. However, industry sources have said there is resistance to the plan, with insiders accusing River Island of expanding too much. 'This is family-run, they've just overstretched, and it's unfair that the landlords will struggle because they haven't maintained their relevance,' one landlord told the Telegraph.
Scottish Sun
6 days ago
- Business
- Scottish Sun
Iconic fashion chain plans UK high street RETURN after going bust and shutting 46 stores
AN iconic fashion chain is planning to make a triumphant return to the high street next year, The Sun can exclusively reveal. Ted Baker is set to make a comeback to the British high street in early 2026, sources close to the matter have said. Advertisement 1 Ted Baker is understood to be returning to the UK high street early in 2026 Credit: PA It is understood the brand is planning to return to London, with more details to be confirmed closer to the time. It's not clear yet how many shops there will be or whether there will be any outside the capital. The news comes more than a year after the much-loved brand dramatically collapsed and shuttered all its stores in August 2024. Founded in 1988, Ted Baker was well-known in the 90s for its clothes and accessories with bold and floral designs. Advertisement A decade ago it was one of the strongest names in the retail sector with 550 shops and concessions around the world - but has recently ran into major difficulties. Shoppers were shocked when the fashion giant fell into administration in March last year. It brought back its website in November last year, stocking a range of menswear, womenswear and accessories. The website currently ships to the UK only but it says it will offer international shipping "very soon". Advertisement The Sun has approached Ted Baker for comment. What happened to Ted Baker The company's troubles first began in 2019 after its founder Ray Kelvin quit his role following allegations of harassment. Fashion chain to shut all shops It then put out several profit warnings, which is when a company advises the stock market that profits will be lower than expected. In 2020, the retailer said it would axe 160 jobs. Advertisement More bad news came in March 2024 it collapsed into administration, putting dozens of stores and hundreds of jobs at risk. By then the company had 86 stores across the UK and 975 employees. No Ordinary Designer Label (NODL), owned by Authentic Brands Group (ABG) and trading as Ted Baker, appointed Teneo as administrators. NODL blamed a deal going sour between its owners and a Dutch operating partner that had allegedly promised to inject cash into the business. Advertisement By April, Ted Baker had announced it would close 15 stores with the loss of 120 jobs. The Sun exclusively revealed in July 2024 that the brand was at risk of disappearing from the high street forever within weeks. It was then announced that the last of Ted Baker's 31 stores would be closed for good in August. The brand launched huge clearance sales to get rid of its final stock, with at least one store advertising at least 70% off everything. Advertisement Shoppers raced to clear the shelves of glamorous maxi dresses, winter coats and men's suits at bargain prices before the stores shut forever. A timeline of what happened March 2019 - Founder Ray Kelvin resigns after harassment allegations December 2019 - Ted Baker shares plummet 12% February 2020 - It announces it plans to cut 160 jobs March 2024 - Ted Baker collapses into administration April 2024 - The retailer says it will close 15 stores July 2024 - The Sun reveals the chain is at risk of disappearing August 2024 - The last Ted Baker stores close for good November 2024 - The website relaunches July 2025 - It's understood Ted Baker is planning to make a comeback Other iconic brands that have come back from collapse Ted Baker wouldn't be the first brand to make a dramatic comeback to the high street. Shirtmaker T.M. Lewin announced last month it would be opening more stores in London, Manchester and Edinburgh. The brand had fallen into administration and shut all of its 66 branches in 2020. Advertisement Last year, fashion and homeware chain Cath Kidston made a surprise return by opening a store in Westfield White City, London. The retailer had crashed into administration and shut all of its stores in 2023. Wilko also made a high street comeback with stores in England, Scotland, Wales and Northern Ireland almost a year after it went into administration. Meanwhile fashion chain M&Co opened a new store in Scotland a little more than a year after it collapsed. Advertisement
