FASHION giant Ted Baker is set to go into administration – putting hundreds jobs at risk.

US-based parent company Authentic Brands Group (ABG) said the firm, which has stores in Bath and Bristol, will currently continue to trade and that it was in discussions with potential buyers.

Chief strategy and transition officer at ABG, John McNamara, said: “We wish that there could have been a better outcome for the Ted Baker employees and stakeholders.”

He said the brand’s holding company, No Ordinary Designer Label, had struggled during a tie-up with Dutch company, AARC.

AARC ran Ted Baker’s shops and online business in Europe but had accrued a “significant level of arrears”.

The fashion brand employs around 975 people and has 46 stores, plus department store concessions.