After a period of reported back-and-forth, it is now believed that talks between Mike Ashley’s Frasers Group and Ted Baker parent company Authentic Brands Group have stalled. The news comes ahead of the imminent closure of Ted Baker’s remaining 31 stores in the UK, which are set to shutter this week.
Frasers’ name first came into circulation regarding the possibility of a Ted Baker takeover three months ago, when it emerged that the British retail giant was among the leading contenders to secure a licensing partnership. Now, however, despite suggestions that an agreement had been made, such talks are now believed to have come to a halt, according to Sky News.
Citing sources, the media outlet said that no ongoing talks between the duo were being held, contrasting reports from a few weeks ago that stated potential reopenings of certain Ted Baker stores were on the cards. Earlier this month, such speculation was only further fuelled by a report by Drapers which suggested that Frasers and Authentic had been mulling an even wider partnership that could have seen the former become the UK and European operating partner for both Ted Baker and Reebok, also Authentic-owned.
In the way of store closures, one store source for Sky News told the publication that they had been told this Tuesday (August 20) was to be the final day of trading. The remaining closures are being handled by administrators to Ted Baker’s existing partner, No Ordinary Designer Labels, which collapsed into administration earlier this year. The move has already resulted in the shuttering of 15 of the British brand’s stores throughout the region.
http://dlvr.it/TC5Jrg
No comments:
Post a Comment