And while some are struggling to come to terms with the news that the label has gone into administration, others are taking full advantage.
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One person took to the Extreme Couponing and Bargains UK group on Facebook to share their bargain buys, after heading to Boots to stock up.
“Apparently Ted Baker are going into administration,” Tracey wrote.
“I love their stuff so I was happy to get some bargains!”
She also posted pictures of the Vintage Amber hair and body wash – which she’d got for 93p instead £1.25 – and the Graphite Black body spray, which was also down to 93p from £1.25.
Read more Bargain stories
Tracey also got two bottles of £4 Peony and Camellia body spray and some Violet and Bergamot hand wash for £4 in a three for two deal.
“Is it online?” one person asked.
To which another replied: “There is a sale on Ted Baker stuff online, but no where near as cheap as what’s in this post!
“They’re still £3.75 for the wash/spray.”
“Must be just in stores as online is normal prices,” another said.
“Yes, got some of the hand washes yesterday for £2 and little travel sets for £2, on 3 for 2 as well. In Boots,” someone else wrote.
“Ted Baker gone went into administration in march,” another pointed out.
“They gone online. They have one outlet left which is at York shopping outlet.”
“Crazy that cause Ted Baker is nice though!” someone else said.
“I suspect its Boots Christmas stock left over,” another wrote.
“They did big reductions which were store specific. Ted Baker is still online and there’s still an outlet shop in Portsmouth.”
“It’s just changed packaging selling old ones off in boots stores,” someone else said.
As another commented: “Got my eldest some sprays a few weeks ago to put back for Xmas! Cheaper than lynx!”
“I had no idea about them going into administration,” someone else wrote.
Why are retailers closing stores?
RETAILERS have been feeling the squeeze since the pandemic, while shoppers are cutting back on spending due to the soaring cost of living crisis.
High energy costs and a move to shopping online after the pandemic are also taking a toll, and many high street shops have struggled to keep going.
The high street has seen a whole raft of closures over the past year, and more are coming.
The number of jobs lost in British retail dropped last year, but 120,000 people still lost their employment, figures have suggested.
Figures from the Centre for Retail Research revealed that 10,494 shops closed for the last time during 2023, and 119,405 jobs were lost in the sector.
It was fewer shops than had been lost for several years, and a reduction from 151,641 jobs lost in 2022.
The centre’s director, Professor Joshua Bamfield, said the improvement is “less bad” than good.
Although there were some big-name losses from the high street, including Wilko, many large companies had already gone bust before 2022, the centre said, such as Topshop owner Arcadia, Jessops and Debenhams.
“The cost-of-living crisis, inflation and increases in interest rates have led many consumers to tighten their belts, reducing retail spend,” Prof Bamfield said.
“Retailers themselves have suffered increasing energy and occupancy costs, staff shortages and falling demand that have made rebuilding profits after extensive store closures during the pandemic exceptionally difficult.”
Alongside Wilko, which employed around 12,000 people when it collapsed, 2023’s biggest failures included Paperchase, Cath Kidston, Planet Organic and Tile Giant.
The Centre for Retail Research said most stores were closed because companies were trying to reorganise and cut costs rather than the business failing.
However, experts have warned there will likely be more failures this year as consumers keep their belts tight and borrowing costs soar for businesses.
The Body Shop and Ted Baker are the biggest names to have already collapsed into administration this year.
“That’s sad for all their employees. I been there 3 times and it sucks, usually this doesn’t end well.”
It’s thought 120 staff will lose their jobs after the brand fell into administration, with 15 of its stores being closed down – 11 of which have already shut.
On top of the in-store redundancies, 25 head office staff will also lose their jobs, administrators Teneo said.
“Ted Baker is an iconic British brand with strong partners around the world,” Benji Dymant, joint administrator, said.
“We would like to thank Ted Baker team members and partners for their ongoing efforts and support at this difficult time.”
“These store closures, whilst 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.”
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