Ted Baker owner Authentic Brands Group has secured new funding for the retailer, which it said will help grow its UK and European operations.
Authentic Brands said it had secured a deal with asset-based lender Secure Trust Bank Commercial Finance (STB CF), which had agreed to provide a “long-term secured asset-based facility” to Ted Baker operator AARC.
The new lending facility, provided in conjunction with Modella Capital, will “assist the business by providing a platform for the growth of Ted Baker’s UK and European retail operations under the AARC Group, which acquired the licence earlier this year”.
Authentic Brands acquired Ted Baker in October 2022 and in April 2023 appointed Dutch retail group AARC to run its shops and online operations in the UK and Europe.
The new funding will “allow the AARC Group to drive Ted Baker’s retail footprint and grow its operations in the UK and Europe”.
Carlos Radulovitch, group chief executive of Ted Baker and AARC Group, said: “After securing the licence to Ted Baker operations in the UK and Europe, we’re focused on revitalising the business to its full potential and we are pleased to have secured a partnership with retail specialists Secure Trust and Modella to join us on this journey to growth.
“We are optimistic about Ted Baker’s bright future, working collaboratively with Authentic and the wider network of Ted Baker licensees.”
A spokesperson for Ted Baker said they could not disclose the amount of new funding secured in the deal.