Ted Baker is shutting down its North American stores and website; still, Authentic Brands Group is bullish on the U.K. brand.
According to an Authentic spokesperson, the company is seeking a new partner to run the business, and its U.K.-based design office, U.K. website and wholesale operations remain in operation. Authentic appointed PDS Group as the designer and supplier ofDavid Beckham and Authentic Brands Group Talk Up Partnership
This is not the first time Authentic has had to regroup. Earlier this year, it terminated a licensing deal with, which had published Sports Illustrated, after Arena failed to make a quarterly license fee payment of $3.7 million. Arena threatened to end the print magazine and fire nearly its entire staff, but Authentic found another operator, Minute Media, and reinstated the employees. and OSL Fashion Services Inc.
Since that time, nearly the entire staff — 350 in the U.S. and 280 in Canada — was terminated and the remainder of the employees are working to wind down the business, according to sources.
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