Ted Baker, the insolvent British apparel retailer, will close its last 31 stores in Britain and Ireland, laying off more than 500 employees, administrators announced Monday.
Ted Baker stated in March that it would go into administration across Europe due to indebtedness and poor trading conditions.
Teneo, the consultancy group in charge of the administration, confirmed that the outlets would be closed beginning Tuesday.
The move comes after 15 stores closed in Britain in April, resulting in the loss of 245 jobs.
Ted Baker was purchased in 2022 for £211 million ($268 million) by Authentic Brands Group (ABG), which also controls Reebok and Juicy Couture.
The fashion label, founded in 1987, has been in turmoil for some years.
The brand was hit by a sexual harassment incident involving its creator Ray Kelvin, which resulted in his departure, along with his management team, in 2019.
Separate receivership actions are underway in continental Europe, where the company operates a few locations, and in North America, according to a source familiar with the situation.