Next and Frasers Group mulls bid for Ted Baker

Mike Ashley’s Frasers Group and Next have expressed interest in acquiring Ted Baker, according to the Times.

The news comes after the fashion label collapsed into administration and appointed Teneo Advisory as its administrator. 

Both Frasers and Next have contacted Teneo Advisory to explore a sale of all or parts of Ted Baker.  

No Ordinary Designer Label, Ted Baker’s retail and ecommerce business in Britain and Europe, appointed Benji Dymant and Daniel Smith of Teneo Financial Advisory as joint administrators on 22 March. 

The duo announced on Monday that as part of the administration process, 11 stores will close and cease trading by 19 April. 

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”. 

Authentic Brands Group acquired Ted Baker in 2022 in a £210m deal. The fashion label subsequently entered a brand licensing partnership with Dutch group AARC, which was abandoned in January 2024 due to a dispute. 

John McNamara, group chief strategy and transition officer at ABG, said: “Despite our tireless efforts, the damage done during a period under AARC in which NODL [Ted Baker] built up a significant level of arrears was too much to overcome.”

Ted Baker will continue to trade during the insolvency process.