Frasers Group, led by Mike Ashley, has acquired the popular British fashion brand Ted Baker and is looking to steer it as a new partner.
Ted Baker is facing financial difficulties following the collapse of No Ordinary Designer Label (NODL), Ted Baker’s UK licensing partner, which licensee AARC had run.
According to Sky News, apparel and sportswear retailer Frasers has emerged as the preferred partner for this UK operation. Other potential partners include Next and Ted Baker’s US licensing partner OSL.
A retail industry source told Sky News that Frasers and NODL’s administrators “hoped to reach agreement on a deal in the coming days”.
Frasers has in the past acquired brands that were in financial difficulty and worked to turn them around. Unfortunately, Matches, a part of the Frasers group, has not been a success story, but brands such as House of Fraser, Gieves & Hawkes, and Jack Wills have been restructured under the group’s umbrella.
On the other hand, NODL appointed restructuring firm Teneo as administrator in March, announcing the closure of 15 Ted Baker stores in the UK and the potential restructuring of 250 jobs.