Ted Baker’s North American licensing partner, OSL, is reportedly eyeing a potential takeover bid of the fashion retailer after it collapsed into administration.

Ted Baker sign USA

OSL, which was appointed to run Ted Baker’s US business last year, is reportedly the new frontrunner to take control of its British operation, according to Sky News.

OSL is expected to snap up “dozens” of Ted Baker stores in the UK if a deal is confirmed.

This comes after it was reported earlier this week that fashion giants Next and Frasers Group have been in talks with administrators at Teneo to “explore a sale of all of parts” of the business.

Both retailers are understood to still be in the running for a potential takeover.

OSL could not be reached for comment and Teneo declined to comment.

Administrator Teneo announced the closure of 15 Ted Baker stores across the UK, resulting in 245 job lossses at the retailer, earlier this month.

All closing stores are believed to be making a loss and are “deemed to have no prospect of being able to return to profitability even with material rent reductions”.

Ted Baker owner Authentic was reported to be mulling a CVA of the brand in February this year, ahead of No Ordinary Designer Label (NODL), which trades under the Ted Baker brand, filing a notice of intention to appoint advisers at Teneo last month.