Ted Baker’s US suitor Authentic Brands – whose portfolio of labels includes David Beckham, Juicy Couture and Nautica – may pull bid for fashion chain
Ted Baker’s US suitor may pull its bid for the fashion chain, The Mail on Sunday understands.
Authentic Brands – whose portfolio of labels includes David Beckham, Juicy Couture and Nautica – has been in talks to buy the business for more than £1.50 a share.
Follower of fashion: Ted Baker confirmed last week it was in discussions with ‘a preferred counter-party’
Ted Baker confirmed last week it was in discussions with ‘a preferred counter-party’.
It did not name the bidder, but it is understood to be Authentic Brands.
The talks are ‘likely to take several weeks’, it said. However, the American group is said to be considering deals elsewhere.
It is not clear whether any other serious bidders are ready to step up – should Authentic’s interest evaporate.
The New York-based firm has looked at buying other UK businesses but its main focus remains the US market.
Last week, Ted Baker reported reduced annual losses. It said the end of Covid restrictions has lifted demand for office and leisure wear.
But the fashion market is likely to remain under pressure this year as rising inflation curbs spending and cost pressures squeeze profits at retailers.
Ted Baker’s share price fell 2 per cent last week. Other retail stocks rose after Chancellor Rishi Sunak revealed plans for a stimulus package.
Authentic Brands declined to comment.