The British fashion brand Ted Baker may have to close stores in Belgium, the Netherlands and Spain. The retail divisions that run operations in those countries may be placed under receivership.
149 jobs at risk
After the British operational activities, bankruptcy is now also threatened for the Ted Baker departments in the Netherlands, Belgium and Spain. According to trade magazine WWD, local companies could soon end up under receivership.
This also goes hand in hand with store closures: four stores in the Netherlands and Belgium and seven shop-in-shops in the Netherlands may close soon. The brand has its own store in Antwerp and Amsterdam, among others. In Spain this concerns one flagship store and 15 concessions. A total of 149 jobs are at risk.
In February, parent company Authentic Brands Group stopped its collaboration with retail company AARC, which runs the stores and webshop in the United Kingdom and Europe. Shortly afterwards, the fashion label had to file for bankruptcy because it could no longer pay the rents in the United Kingdom. Authentic Brands then said it would look for a new European retail partner.
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British fashion brand Ted Baker may have to close stores in Belgium, the Netherlands and Spain. The retail divisions that run operations in those countries may be placed under receivership.
