{"id":607132,"date":"2026-05-27T19:16:19","date_gmt":"2026-05-27T19:16:19","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/607132\/"},"modified":"2026-05-27T19:16:19","modified_gmt":"2026-05-27T19:16:19","slug":"british-high-street-chain-to-close-21-stores-after-rescue-deal-as-jobs-also-lost","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/607132\/","title":{"rendered":"British high street chain to close 21 stores after rescue deal as jobs also lost"},"content":{"rendered":"

The takeover includes the intellectual property assets, but does not include two UK shops in Covent Garden, London and Glasgow, Scotland, or its 19 concessions<\/p>\n

12:20, 27 May 2026Updated 12:34, 27 May 2026<\/p>\n

\"Closed<\/p>\n

A number of businesses have entered administration(Image: Getty Images\/iStockphoto)<\/p>\n

Luxury handbag and accessories brand Radley has been snapped up by the owner of Poundland – but its stores are now at risk of closure.<\/p>\n

Investment firm Gordon Brothers, which also owns LK Bennett, has taken over Radley through a pre-pack administration – but the deal will result in the loss of 42 jobs.<\/p>\n

The takeover includes the intellectual property assets of Radley, but does not include its two UK shops in Covent Garden, London and Glasgow, Scotland<\/a>, or its 19 concessions.<\/p>\n

Drapers reports that these are expected to trade for roughly 14 weeks to clear stock. The Mirror<\/a> has contacted administrators at FTI Consulting and Radley for clarification.<\/p>\n

Radley, which is known for its signature Scottie dog branding, suffered a pre-tax loss of \u00a35.5million last financial year. Meanwhile, turnover dropped from \u00a372million to \u00a365.8million.<\/p>\n

Get the best deals and tips from Mirror Money<\/p>\n

WHATSAPP GROUP: Get money news and top deals straight to your phone by joining our Money WhatsApp group here<\/a>. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don\u2019t like our community, you can check out any time you like. If you\u2019re curious, you can read our Privacy Notice<\/a>.<\/p>\n

NEWSLETTER: Or sign up to the Mirror’s Money newsletter here<\/a> for all the best advice and shopping deals straight to your inbox.<\/p>\n

The company was founded as a stall in London\u2019s Camden Market in 1998.<\/p>\n

Carolyn D’Angelo, Senior Managing Director, Head of Brand Operations at Gordon Brothers, said: \u201cWe are honored to be the brand stewards for this modern British brand and look forward to bringing Radley to a wider consumer audience, with new territories, product categories and retail distribution channels.\u201d<\/p>\n

Nimit Shah, Managing Director at Gordon Brothers, said: \u201cWith our cross-border capabilities and deep experience in investing in and operating retail brands, we are well positioned to unlock value and expand these businesses into new markets while staying true to what makes each brand unique.\u201d<\/p>\n

In a statement, FTI Consulting said: \u201cThe administration appointment follows a sustained period of challenging economic conditions for the retail environment, including declining customer demand and increasing operating costs, all of which have had a negative impact on trading.\u201d<\/p>\n

In more retail news, Flying Tiger Copenhagen is on the brink of being taken over in a move that would impact around 900 stores globally.<\/p>\n

Flying Tiger sells its own range of Scandi-style budget-friendly products, including everything from homeware, stationery and toys.<\/p>\n

It has around 80 shops in the UK and is owned by Danske Bank and Nordea.<\/p>\n

But a new report by The Times<\/a> suggests the retailer is on the cusp of being brought by private equity fund Modella Capital. City sources told the newspaper that a deal could be announced imminently.<\/p>\n

It comes after financial advisers were reportedly appointed to explore options for Flying Tiger, including a sale, earlier this year.<\/p>\n

In its latest results, Flying Tiger reported a “record-breaking” 2024 performance with revenues of DKK 5.2 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"The takeover includes the intellectual property assets, but does not include two UK shops in Covent Garden, London…\n","protected":false},"author":2,"featured_media":607133,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[84,59,39808,56,54,55],"class_list":["post-607132","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-gb","tag-high-street-closures","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/607132","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=607132"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/607132\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/607133"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=607132"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=607132"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=607132"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}