The iconic British fashion label Ted Baker has been thrust into uncertainty as it calls in administrators, putting over 900 jobs in jeopardy. The brand’s owner, Authentic Brands Group, has cited significant financial damage during its partnership with the Dutch company AARC Group, which managed Ted Baker’s operations throughout Europe.

According to Authentic Brands Group, the business accrued considerable debt under AARC’s management. The fallout from this partnership led No Ordinary Designer Label (NODL), the trading entity for Ted Baker, to sever ties this January.

The situation escalated as NODL filed for administration after AARC allegedly reneged on its financial commitments. With approximately 975 employees and over 80 retail locations in the UK, the future of these shops and the fate of the employees remain unclear.

John McNamara, the Chief Strategy and Transition Officer, expressed deep regret over the situation. “Despite our exhaustive efforts, the financial distress caused during AARC’s tenure proved insurmountable,” he stated. McNamara extended his sympathies to the employees and stakeholders, offering a glimmer of hope as NODL plans to maintain its online and physical store presence.

The focus now shifts to finding a new partner to revitalize and expand the Ted Baker brand in its home territory and beyond. Authentic Brands Group, which acquired Ted Baker for £211 million in August 2022, remains optimistic about the brand’s legacy and future prospects in the UK and European markets.