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Ted Baker’s American licensing partner OSL has reportedly emerged as the frontrunner to take over the brand’s collapsed UK operation, according to Sky News.
OSL was appointed to run Ted Baker’s US retail business just over a year ago and now looks to be set to run the rest of the business.
The news comes after the company’s administrators announced that 15 Ted Baker stores in the UK would close permanently with the loss of more than 200 jobs.
It is believed that the closures were necessary to help assist administrators in salvaging a future for the remainder of the business.
No Ordinary Designer Label, the existing UK licensing partner owned by Dutch company AARC, collapsed last month, leaving Authentic Brands Group without a partner.
The Times reported that Next and Mike Ashley’s Frasers Group are also interested in the licence and remain in contention.
Sources told the Times that a deal with Next or Frasers Group, both wanting to retain part of the physical stores, would save certain outlets.
An insider told the outlet: “It is understood that they have less than six weeks to submit a bid. A buyer could be announced within the next three weeks”.
