Finance

Ted Baker completes HQ sale to British Airways’ pension fund

By 2020-03-23T07:54:00

Ted Baker

Troubled fashion retailer Ted Baker has completed a sale and leaseback of its head office as it seeks to boost its balance sheet in the face of the Covid-19 outbreak as well as poor consumer demand.

The British Airways Pension Trustees has paid £78.75m for The Ugly Brown Building in north west London, and Ted Baker will net at least £72m, which will used to pay down debt.

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