Ted Baker sold for €250m in cut-price deal that may secure future for retailer 

Ted Baker shares have lost more than 90% of their value in the past four years

Ted Baker has grown to 377 stores and concessions worldwide, including a handful in Ireland north and south.

Authentic Brands, the owner of Juicy Couture, has struck a deal to buy Ted Baker for about £211m (€250m) in a cut-price cash deal which could secure the future of the struggling fashion chain.

The US group offered 110 pence a share for the chain in a deal that represents a premium of about 18% to the retailer’s closing price earlier this week, and the shares on Tuesday surged by around the same amount.