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Iconic luxury handbag retailer to disappear from UK high street's as jobs axed
- Luxury handbag brand Radley has been sold to Gordon Brothers, owners of Poundland, as part of a pre-pack administration, with 21 UK stores closing in the coming week and 42 jobs being axed.
- Private equity owner Freshstream, which acquired Radley in 2016, initiated the sale earlier this year after the retailer posted a £2.2 million pre-tax loss with sales falling from £72 million to £65.8 million in 2024/2025.
- Founded in Camden Market in 1998 by Australian designer Lowell Harder, Radley operated 21 stores and was stocked in M&S, Next and John Lewis before surrendering leases for US outlets in Orlando, Desert Hills and Las Vegas.
- Administrators FTI Consulting confirmed all Radley stores will remain open for 14 weeks to clear inventory before closures commence, providing a wind-down period for the affected 42 employees facing redundancy.
- The pre-pack administration process under the Insolvency Act 1986 provides companies with 'breathing space' from creditor enforcement, enabling administrators to pursue asset sales that maximize returns for creditors compared to liquidation.
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Evening StandardReposted by 
perspectivemedia.com
perspectivemedia.comRadley stores face closure despite rescue from administration
Around 42 jobs will be lost despite the handbag retailer being purchased by Gordon Brothers
·London, United Kingdom
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Total News Sources30
Leaning Left3Leaning Right2Center20Last UpdatedBias Distribution80% Center
Bias Distribution
- 80% of the sources are Center
80% Center
12%
C 80%
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