Business

Ted Baker’s US suitor Authentic Brands may pull bid for fashion chain

Ted Baker’s US suitor Authentic Brands going chilly on plans to purchase the British fashion star

Ted Baker’s US suitor may pull its bid for the fashion chain, The Mail on Sunday understands. 

Authentic Brands – whose portfolio of labels contains David Beckham, Juicy Couture and Nautica – has been in talks to purchase the business for greater than £1.50 a share. 

Follower of fashion: Ted Baker confirmed last week it was in discussions with 'a preferred counter-party'

Follower of fashion: Ted Baker confirmed final week it was in discussions with ‘a most popular counter-party’

Ted Baker confirmed final week it was in discussions with ‘a most popular counter-party’. 

It didn’t identify the bidder, however it’s understood to be Authentic Brands. 

The talks are ‘more likely to take a number of weeks’, it stated. However, the American group is claimed to be contemplating offers elsewhere. 

It will not be clear whether or not another severe bidders are able to step up – ought to Authentic’s curiosity evaporate. 

The New York-based agency has checked out shopping for different UK companies however its fundamental focus stays the US market. 

Last week, Ted Baker reported diminished annual losses. It stated the top of Covid restrictions has lifted demand for office and leisure put on. 

But the fashion market is more likely to stay underneath strain this year as rising inflation curbs spending and value pressures squeeze earnings at retailers. 

Ted Baker’s share worth fell 2 per cent final week. Other retail shares rose after Chancellor Rishi Sunak revealed plans for a stimulus package deal. 

Authentic Brands declined to remark. 

Advertisement

Back to top button