Ted Baker is looking to sell its London headquarters to help boost its balance sheet amid an accounting crisis.
The retailer is close to striking a deal with British Airways’ pension scheme to offload a stake in its Ugly Brown Building in north London.
Ted Baker owns its headquarters outright and a nearby building is already owned by the BA pension scheme.
The move is expected to raise tens of millions of pounds.
An independent review in January found that the retailer had overstated the value of its inventory by £58m – more than double the original estimate of £25m.
Ted Baker swung to a loss before tax of £23m for the 28 weeks to 10 August 2019, compared to a profit of £24.5m in the same period the year before.
Ted Baker HQ, The Ugly Brown Building