Ted Baker owner falls into administration

No Ordinary Designer Label (NODL) – which runs 46 Ted Baker stores in the UK, a website and concessions – has appointed officials from Teneo. Authentic Brands – which licences the Ted Baker brand to NODL – meanwhile has said it’s “in advanced discussions” with potential buyers. 

It follows it having “built up a significant level of arrears” during a tie-up with Dutch AARC, with the damage done having been “too much to overcome”. The partnership, which ran Ted Baker’s shops and online business in Europe, ended in January.  

Teneo joint administrator Benji Dymant said: “The appointment of joint administrators comes seven weeks after NODL’s operating partnership with AARC on 29 January 2024.  

“That decision was made after AARC failed to meet financial obligations and inject promised funding into the business. The business traded well below forecast in the fourth quarter of 2023 and built up a significant level of arrears.  

“This has meant that the company requires the protection of a moratorium to continue to trade and the director has taken the difficult decision to place the company into administration.  

“Despite NODL entering administration it is important to emphasise that the Ted Baker brand will continue to trade and customer orders with still be fulfilled. Ted Baker is an iconic British brand with strong partners around the world.

“Authentic has advised that it is advanced discussions with several potential operating partners to take over the Ted Baker UK and European operations and bring the business back to full health.”