Authentic Brands Cuts Ties with European Operator of Ted Baker Stores

Authentic Brands Group (New York) has cut ties with AARC, its U.K. and European retail partner for Ted Baker, Women’s Wear Daily reports. AARC is a retail operator in roughly 11 countries across the Middle East, Africa and Europe.

Authentic claims AARC had not properly invested in the Ted Baker business and failed to meet its financial obligations. Since June 2023 (with a deal inked in April 2023) AARC had operated Ted Baker’s more than 120 retail stores and online business. Authentic says it provided AARC with a short-term loan and tried to support the company through its recent financial issues.

AARC “consistently failed to inject promised funding into the business and meet its financial obligations to Authentic,” the company said in a statement Saturday, WWD reports. AARC has been removed as a shareholder and an independent board has been brought in to manage operations and allow the Ted Baker stores to remain open.