Ted Baker have now announced they will be closing 11 stores by the 19th April – including the Liverpool One store.
The Ted Baker store on Peters Lane was around for at least a decade in the city after expanding in 2013.
Not only is it a loss of a clothes store to the city but it also means a loss of job opportunities. Including all the shops shutting, overall 245 jobs approximately in retail stores and the Head Office will be lost.
Closure of the store is due to the brand trying to save its place on the high street by minimising expenditure and focusing on the higher profit stores.
Administrators at Teneo Financial Advisory have been quotes saying that all stores shutting are not making enough income to stay open, with many strategies failing to try to keep these stores open.
The downfall of Ted Baker is a great reflection of the constantly changing world of fashion and retail. Their failure to adapt to the current trends has left them with no other option than to cut their losses with certain stores leaving team members vulnerable in this deeply concerning cost of living crisis.
However, this is not the end for Ted Baker, we could see them return to Liverpool One someday.
Mersey Focus 