Ted Baker’s American licensing partner, OSL, is a leading contender to acquire the fashion brand’s British operation following its recent administration.
OSL, which took over Ted Baker’s US retail business a year ago, is poised to assume control of the European business, including numerous UK stores.
The potential acquisition by OSL comes after administrators at Teneo announced the closure of 15 Ted Baker stores in the UK, resulting in over 200 job losses.
These closures are seen as necessary to support the administrators in securing the future of the remaining business.
Last month, No Ordinary Designer Label, the previous UK licensing partner owned by Dutch company AARC, collapsed, leaving Authentic Brands Group to seek a replacement.
Reports suggest that Next and Mike Ashley’s Frasers Group have also expressed interest in acquiring the UK arm and remain contenders for a deal.
This development follows Ted Baker’s delisting from the London stock market approximately 18 months ago after being acquired by ABG for around £210m.
Despite its recent challenges, Ted Baker continues to trade during the insolvency process.
