Secure Trust Bank : New funding to provide Ted Baker's retail operator with platform for growth

Specialist asset-based lender, Secure Trust Bank Commercial Finance ("STB CF"), has provided a long term secured asset-based facility to No Ordinary Designer Label Limited ("NODL"), part of the AARC Group, the retail and ecommerce operator in the UK and Europe of omnichannel fashion brand, Ted Baker.

The facility was provided in conjunction with Modella Capital, experts within the retail sector. The facility will assist the business by providing a platform for the growth of Ted Baker's UK and European retail operations under the AARC Group, which acquired the licence earlier this year. NODL was advised by FTI Consulting which worked closely with the lenders and management in structuring the facilities. Legal advice for STB CF and Modella was provided by Crowell & Moring UK LLP and Pinsent Masons LLP, and for NODL, Addleshaw Goddard LLP.

In October 2022, Ted Baker was acquired by Authentic Brands Group ("Authentic") the global brand development, marketing and entertainment platform, which converted the business to its licensed model bringing on a network of industry experts to position Ted Baker for growth. In June 2023, the AARC Group became the retail operator of Ted Baker stores, concessions and tedbaker.com in the UK and Europe. The new funding will allow the AARC Group to drive Ted Baker's retail footprint and grow its operations in the UK and Europe.

Carlos Radulovitch, CEO at No Ordinary Designer Label Limited and AARC Group, said: "After securing the licence to Ted Baker operations in the UK & Europe, we're focused on revitalising the business to its full potential and we are pleased to have secured a partnership with retail specialists Secure Trust and Modella to join us on this journey to growth. We are optimistic about Ted Baker's bright future, working collaboratively with Authentic and the wider network of Ted Baker licensees."

Paul Johnston, Regional Managing Director (North West) at Secure Trust Bank Commercial Finance, said: "We are delighted to complete this transaction, alongside Modella Capital, for a retailer with a strong British heritage. This facility will provide NODL with the firepower to continue strengthening Ted Baker's retail presence in the UK."

Joseph Price, Managing Director at Modella Capital, said: "Using our industry expertise and capital to support NODL and the Ted Baker brand is a great example of what we're trying to achieve at Modella Capital. We are excited to work closely with Secure Trust Bank Commercial Finance as NODL stabilises and grows its business."

Oliver Wright, Senior Managing Director at FTI Consulting, said: "For businesses in this sector, access to capital is essential. When we identified a need for a financing solution for NODL, we had no hesitation in referring them to STB CF. The outcome achieved, through all parties involved, will set the team on an exciting growth trajectory."