Next and the Frasers Group, owned by Mike Ashley, are reportedly eyeing up taking on some of the ailing retailer’s stores.
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The UK retailing giants have contacted administrators at Teneo Advisory to explore a sale of all or parts of the collapsed business.
No Ordinary Designer Label (NODL), owned by Authentic Brands Group (ABG) and trading as Ted Baker, fell into administration just last month.
Teneo said 15 stores are set to close as part of the administration process, with 11 pulling down their shutters by April 19.
In total, 220 workers are set to lose their jobs should all the 15 stores close permanently.
However, it is understood some of Ted Baker’s shops could be saved under a deal with Next or Frasers Group, reports The Times.
It is not clear at this stage which stores could be saved from closure.
The Sun approached Teneo, Frasers Group and Next for comment.
It comes after Next bought out both FatFace and Cath Kidston last year.
Meanwhile, Frasers Group has snapped up a number of retailers in recent years, including Game and Sports Direct.
Ted Baker fell into administration in March putting its then 46 UK stores at risk of closure.
It followed ABG saying it was exploring several cost-saving measures to shore up the company’s “soaring” costs in February.
The chain’s troubles started in 2019 after founder Ray Kelvin quit his role following allegations of harassment.
Several profit warnings, a statement advising the stock market company profits will be lower than expected, followed.
In 2020, the retailer said it would axe 160 jobs, branding 2019 a “challenging year”.
Ted Baker isn’t the only retailer left struggling on the high street.
The Body Shop fell into administration in February, putting hundreds of stores at risk of closure.
It has since announced 82 store closures in a blow for shoppers and employees.
Wilko and Paperchase also both filed for administration last year in a blow for the high street.
It saw hundreds of shops close and thousands of workers lose their jobs.
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