Ted Baker might be about to be taken over by its US licensing partner, Sky News reported today.
OSL, which has been running the retailer’s US operation for a year now for US owner Authentic Brands, is in pole position to buy the businesses in Europe as well, said the report.
Next and Mike Ashley's Frasers Group have also been in contact with Teneo about a deal and are still said to be interested.
Teneo, the administrator of the UK arm of Ted Baker, confirmed earlier this week that 15 stores here would close.
Authentic Brands bought the struggling Ted Baker for around £210 million in 2022.
Last month, the UK business went into administration with Authentic Brands at the time saying that it was “focused on securing a new partner to uphold and grow the Ted Baker brand in the UK and Europe where it began”.