The closure of all remaining Ted Baker stores in the UK has been seen as a “wake-up call for the entire high street”.
The clothing brand had been facing economic difficulties for a number of years amid weaker consumer demand and supply chain issues.
Following its collapse, more than 500 jobs are at risk.
One expert explained that brands need to “evolve or risk becoming extinct”.
Josh Neuman, founder of Chummy Tees and eCommerce marketing and fashion expert told GB News: “The closure of Ted Baker stores isn’t just about one brand calling it quits – it’s a wake-up call for the entire high street.
“In the fast-paced world of fashion, standing still is basically moving backward. While Ted Baker was busy doing what they’ve always done, younger brands were busy innovating and connecting with customers online.
“The high cost of rent is another killer for high street stores. When you’re paying top dollar for prime locations, it’s tough to keep prices competitive, especially when online retailers don’t have the same overhead.
“Add in the current cost of living crisis, and you’ve got a recipe for disaster for traditional retailers.
Ted Baker announced it would be shutting the doors to all 31 remaining stores
PA
“The high street isn’t dead, but it’s definitely changing. The survivors will be the ones who can blend the best of both worlds – the personal touch of in-store experiences with the convenience and innovation of online shopping.
“Ted Baker’s closure is more than just a headline – it’s a cautionary tale for all retailers. Adapt, innovate, or face the same fate. Yes, it’s a tough lesson, but one that the entire industry needs to learn from.”
Ted Baker is but one casualty of the dying High Street after Wilkos went into administration and closed all stores across the country last year.
Marks & Spencer also confirmed it would close 27 stores in the next five years and Boots announced it would close 300 branches.
Peacocks, New Look, Sports Direct and Trespass have all wiped stores from the high street.
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Source Agencies
