Overview

• Ted Baker's US owner, Authentic Brands Group, announces the brand will enter administration due to significant financial arrears.
• Nearly 1,000 jobs at risk as the British fashion retailer struggles with competition, pandemic fallout, and past misconduct allegations.
• Authentic Brands Group blames damage during its partnership with Dutch firm AARC for the brand's financial woes.
• Despite the impending administration, Ted Baker stores and website will continue to operate as the company seeks new partners.
• The brand's difficulties underscore the challenges facing the UK retail sector, with several other brands also entering administration.