Ted Baker owner steps in to ease financing trouble
Authentic Brands acquired the intellectual property of footwear retailer Hunter earlier this year in a deal believed to be worth around £100m
Ted Baker owner Authentic Brands has stepped in after the company it appointed to run its UK operations has struggled to raise financing, according to reports from The Times.
Authentic Brands paid £211m last year for the brand and intellectual property of Ted Baker and appointed retail management company AARC to run its UK operation.
Authentic has provided AARC with a short-term loan to allow it to stabilise the brand.
It has been reported that AARC had been working with advisors from FTI Consulting for months to secure longer-term financing for the brand.
Ted Baker laid off over 200 staff from its head office across sourcing, finance, production and footwear back in June to make way for the outsourcing model.
Authentic Brands acquired the intellectual property of footwear retailer Hunter earlier this year in a deal believed to be worth around £100m.
