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Frasers Group is reportedly closing in on a deal to become the new partner of struggling retailer Ted Baker, Sky News has revealed.
Reports said the group is set to be named as the preferred partner for Ted Baker following the collapse of its existing UK licensing partner No Ordinary Designer Label (NODL).
According to industry sources, an agreement between Frasers and NODL’s administrators is hoped to be reach in the coming days. If completed, Ted Baker will be added to Mike Ashley’s portfolio of retail brands, which include House of Fraser, Jack Wills and Sports Direct.
Next and Ted Baker’s US licensing partner OSL were also said to have expressed interest in the retailer several weeks ago.
The latest news comes after the US owner of Ted Baker, Authentic Brands Group, decided to call in administrators from Teneo Financial Advisory in March. The retailer was previously acquired in 2022 in a £210m deal.
After that, Teneo administrators subsequently decided to close 11 stores and cease trading on 19 April. According to the joint administrators, the closures are “a constructive and necessary step in ensuring the business can deliver a profitable trading performance in the future”.
Frasers Group has been contacted for comment.
