Authentic Brands Group’s Ted Baker retail operations in the UK and Europe are reportedly getting closer to being acquired by Frasers Group as of Wednesday afternoon. No one has spoken publicly about it, but rumour has it that Ted Baker’s UK licensing partner, No Ordinary Designer Label (NODL), and Frasers are in the midst of negotiations that might result in a deal in the next few days.

This chance has arisen since NODL, the company in charge of Ted Baker’s UK activities, has gone bankrupt. Licensee AARC was involved in the collapse, which led administrators to intervene and supervise the process. It appears like Frasers Group will keep up its recent success with Ted Baker, a distressed brand acquisition and revitalization strategy.

While the latest Matches administration shows that this strategy isn’t foolproof, Frasers has a history of success reviving businesses such as Gieves & Hawkes, House of Fraser, and Jack Wills. As of late, Frasers Group has been named Ted Baker’s preferred partner, which could mean something big for the future of the company.

Authentic Brands Group was looking for a new partner to take over Ted Baker’s UK and European operations when NODL collapsed in March. Following last spring’s acquisition by Authentic Brands Group, the company’s new owner has been busy reorganizing Ted Baker’s business strategy and forming partnerships with influential companies throughout the world. As part of the restructuring, AARC assumed responsibility for distribution in the United Kingdom and Europe, while PDS set up the Ted Baker Design Group (TDG) to serve as the center for design and innovation for the brand on a worldwide scale. Unfortunately, AARC ran into problems in the midst of the tough fashion retail scene, which ultimately led to its demise and the pursuit of a new business associate.