The British retailer employs almost 1,000 people and has a number of outlets across Ireland, including in Dublin and Belfast, alongside a website and department store concessions in Brown Thomas and Arnotts. 

Authentic Brands is looking for a new operating partner for the retail and e-commerce business in the UK and across Europe. No Ordinary Designer Label, or Nodl, which trades under Ted Baker’s brand in the UK, had appointed Teneo Financial Advisory as its administrator on March 22.

British fashion retailers have been struggling with tough market conditions. Peer Superdry said earlier this year it did not expect market conditions to improve in the near term. 

The administrators said they decided to close 11 Ted Baker stores by April 19 and that would result in the loss of about 120 jobs. About 25 head office roles have also been made redundant.

Separately, the administrators said prior to their involvement, landlords had also served notice on four more stores that will close in the coming weeks and result in a further 100 layoffs.

“The closing stores are all currently loss-making and, following review by the joint administrators, are deemed to have no prospect of being returned to profitability, even with material rent reductions,” the administrators said.

“These store closures, whilst with a regrettable impact on valued team members, will improve the performance of the business,” joint administrator Benji Dymant said. 

• Reuters. Additional reporting Irish Examiner