Ted Baker to Close All UK Stores, Over 500 Jobs at Risk
The iconic British fashion brand struggles with financial instability and changing consumer tastes, leading to its downfall.
- Ted Baker will shut its remaining 31 stores in the UK and Ireland by the end of Tuesday.
- More than 500 employees are expected to lose their jobs due to the closures.
- Founded in 1988, Ted Baker became known for its floral prints and quirky advertising.
- The brand faced severe competition, a shift to online shopping, and the departure of founder Ray Kelvin.
- Authentic Brands Group, which owns Ted Baker's intellectual property, failed to revive the brand.
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