All change at Bullring asTed Baker pulls out
BIRMINGHAM’S Bullring shopping centre is about to lose one of its high-end fashion stores as another announces plans for expansion.
Fashion label and retailer Ted Baker has gone into administration, with its Bullring store one of 11 set to close by April 19 and a further four shortly after that.
The news was announced this week as another tenant, Zara, said it would be taking the remaining space in the Bullring’s huge former Debenhams unit.
The wider Ted Baker group is set to see around 220 staff lose their jobs across 15 stores plus a further 25 posts at its head office after revealing last month that it was poised to appoint administrators from Teneo.
A total of 11 stores are set to close by the end of next week, with Nottingham being the only other Midlands
venue, while landlords served notice on four other sites prior to the insolvency.
Administrators said the stores earmarked for closure were loss-making and they believed had “no prospect” of being returned to profitability, even with rent reductions.
Authentic Brands, the US firm behind Juicy Couture and Reebok, is still the owner of Ted Baker’s intellectual property and is said to be in the process of finding a new partner to run its retail and online businesses in the UK and Europe.
Joint administrator Benji Dymant said: “Ted Baker is an iconic British brand with strong partners around the world.
“These store closures, while with a regrettable impact on valued team members, will improve the performance of the business as Authentic continues to progress discussions with potential UK and European operating partners for the Ted Baker brand to bring the business back to health.”
Separately, Bullring has been boosted by a deal to let the remaining space in the vast former home of Debenhams, which closed in May 2021 after the department store chain had previously gone into administration.
Fashion chain Zara, which currently occupies two separate units outside the main entrance next to the famous ‘Bull’ statue, will take the top floor of the old Debenhams.
The other space has been leased to Toca Social for a forthcoming interactive football venue, and to Marks & Spencer, which opened a new foodled outlet last year.
In addition, Zara will also occupy a two-storey vacant space next door, making a total lease deal with landlord Hammerson of 51,000 sq ft.
The new-look store will sell womenswear, menswear and childrenswear and feature an automated collection point, self-service and dedicated refund tills and will open later this year.
Finally, watch brand Swatch is making a return to the shopping centre after securing a deal on an 800 sq ft unit in Link Street between Bullring and Grand Central.
Due to open on April 26, it marks a return to the centre after its previous store next to one of the upper-level entrances closed down.
Shoe retailer Clarks also relocated to the lower level last month.
Toby Tait, director of asset management at Hammerson, said: “The strategic repositioning of Bullring and Grand Central has seen us introduce key brands, new concepts and events to the destination.
“As a result, we have driven footfall and sales for our occupiers year-onyear and continue to attract best-inclass brand partners.”
Mr Tait added: “Zara’s reinvestment alongside exciting new concept stores from Swatch and Clarks demonstrates the appeal of Bullring and endorses the success of our strategic focus.”