No Ordinary Designer Label Limited trading as Ted Baker - Administration

No Ordinary Designer Label Limited trading as Ted Baker, a popular fashion label which employs almost 1,000 people, entered administration on 22 March. The company cites “damage” done and arrears accumulated during its partnership with Dutch company AARC Group.

Ted Baker decided to terminate the partnership with AARC on 29 January after AARC allegedly failed to meet financial obligations and inject required funding into the business.

Benjamin Dymant and Daniel Smith of Teneo were appointed joint administrators approximately seven weeks later, and stated that the business had traded well below forecast in Q4 2023, building up a significant level of arrears.

Ted Baker Holdings, Secure Trust Bank and Barclays Bank have registered charges against the company.