Ted Baker is poised to shut down its remaining 31 stores across the United Kingdom, including a prominent branch in Manchester city centre. This decision places over 500 jobs at risk, as reports indicate that discussions between Ted Baker's owner, Authentic Brands, and retail magnate Mike Ashley's Frasers Group have reached an impasse. It is anticipated that all stores will cease operations by the end of Tuesday.

The Ted Baker store on New Cathedral Street is among those affected, following the closure of the Trafford Centre location in April. The entity managing the brand's UK operations, No Ordinary Designer Label Limited (NODL), entered administration in March, resulting in the closure of 15 shops and approximately 245 redundancies.

Employees at the remaining locations were informed last month of their impending job losses, as the brand, once a staple of the UK high street with 46 stores and around 975 employees, faces a significant downturn. Authentic Brands, a US-based company known for its ownership of Juicy Couture and Reebok, continues to hold Ted Baker's intellectual property but has struggled to secure a new partner to manage the retail and online aspects of the business.

Founded in 1988 by Ray Kelvin, Ted Baker gained recognition for its distinctive patterned and floral clothing. While the closure of the UK stores may signify the end of its high street presence, the brand remains available through select department stores and retailers. Efforts for comment from both Authentic Brands and Frasers Group have been initiated.