British fashion brand Ted Baker is reportedly closing several stores in the Netherlands and Belgium in the short term. The news is reported by WWD based on fashion industry sources.
The brand’s British operational activities were previously placed under administration. According to WWD, this is also coming for the branches in the Netherlands, Belgium and Spain. This includes four stores in the Benelux and 15 shop-in-shops, according to WWD. The Benelux branch is led by AARC, a European partner of Ted Baker parent company Authentic Brands Group.
Authentic Brands Group ended its collaboration with the retail company AARC in February 2024. The company was responsible for operating Ted Baker stores and the brand’s e-commerce platform in the United Kingdom and Europe. Authentic Brands Group provided a short-term loan to AARC to help the company through “recent financial difficulties.” However, the company has failed to inject the promised financing into the company. In addition, AARC was unable to meet its financial obligations.
Both Authentic Brands Group and Ted Baker have not yet responded to the news.
