Frasers Group close to Ted Baker rescue deal, say reports

Shirebrook-based Frasers Group could be close to sealing a deal to take over the British arm of stricken fashion chain Ted Baker.

Authentic Brands Group the owner of the intellectual property of Ted Baker, is currently in the process of finding a new operating partner for the retail and e-commerce business in the UK and across Europe.

Frasers Group has been named as the preferred partner for Ted Baker after its UK licensing company, No Ordinary Designer Label (NODL), collapsed, according to reports from Sky News.

Industry sources said on Wednesday (May 8) that Frasers and NODL’s administrators could reach a deal over the next few days.

Frasers could trump fellow East Midlands retail giant Next on the deal.

Teneo, the administrator for NODL, closed 15 Ted Baker shops in April with the loss of over 200 jobs.