Ted Baker is set to close its remaining 31 stores this week, just five months after entering administration. This move puts over 500 jobs at risk, as discussions with retail tycoon Mike Ashley about a potential licensing deal appear to have stalled. The closures mark a significant shift for the brand, which has already seen 15 of its UK stores shut down, leading to 245 job losses.

The company, known for its distinctive patterned and floral clothing, has been under the management of administrators since March. Despite efforts to keep the brand alive, Tuesday is expected to be the final trading day for these stores. Ted Baker, once a staple on UK high streets, is now facing the prospect of disappearing from physical retail entirely.

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Ted Baker’s decline began in 2019 when its founder, Ray Kelvin, was accused of inappropriate conduct, allegations he denied. The fallout led to a leadership shakeup, with Kelvin’s successor Lindsay Page and chairman David Bernstein stepping down after a profit warning in 2020. The company was eventually delisted from the London stock market in 2022, with its troubles partly attributed to a problematic partnership with the Dutch company AARC Group.

Despite these setbacks, Ted Baker’s brand remains under the ownership of US-based Authentic Brands, the parent company of Juicy Couture and Reebok. While the brand will no longer have a physical presence on the high street, it continues to be sold through department stores like John Lewis and House of Fraser. The closure of the UK stores signals the end of an era for Ted Baker, which was founded in 1988 and became well-known for its unique fashion offerings.