A series of court documents explain that Ted Baker Canada’s “financial and operational performance has struggled” over the past year and change, and that the company is now in “significant arrears with a number of critical vendors.”Known for their floral-forward prints, crisply tailored suits, and eyebrow-raising price tags, Ted Baker is one of those brands that sells a lifestyle as much as it sells clothing. But the luxury retailer’s days may very well be numbered in Canada.
The court documents cite the failure of certain ABG operating partners to make payments in respect of the global Ted Baker supply chain, resulting in “substantial” supply chain disruptions, as well as the fact that NODL is facing insolvency in the UK, which prompted suppliers to accelerate their payment terms for Ted Baker North America.
And then, as mentioned earlier, Ted Baker stores across North America reportedly had a net loss over $11.3M USD for the 11 months ending December 31, 2023. “During January through April YTD 2024, Ted Baker NA has generated negative cash flow in excess of $5M,” the court documents state.