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Ted Baker's US licensing partner said to be eyeing UK operations
(Sharecast News) - Ted Baker's US licensing partner is reportedly a leading contender to take control of the fashion brand's British operation weeks after it collapsed into administration. According to Sky News, OSL - which was appointed to run Ted Baker's US retail business just over a year ago - is a frontrunner to take over the European business, which includes dozens of UK shops.
The news comes two days after administrators at Teneo confirmed that 15 Ted Baker stores in the UK would close permanently with the loss of more than 200 jobs.
The closures are understood to have been necessary in order to assist the administrators in salvaging a future for the remainder of the business.
Last month, No Ordinary Designer Label, the existing UK licensing partner owned by Dutch company AARC, collapsed, leaving Authentic Brands Group facing a choice about a replacement.
The Times reported on Tuesday that Next and Mike Ashley's Frasers Group had also made contact with Teneo about taking on the UK arm. It was understood that both remain in contention for a deal.
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