Overview
- Administrators from FTI Consulting were appointed after trading problems and rising costs, and the Radley brand and intellectual property were sold in a pre-pack to Gordon Brothers.
- Closing-down sales launched across multiple outlets and online with discounts up to 50 percent as the company releases extra warehouse stock to clear remaining inventory.
- The pre-pack deal excluded the retailer’s physical estate, putting about 21 UK stores and concessions on course for phased closure under the administrators.
- Some staff were made redundant immediately and roughly 300 roles remained uncertain, while suppliers have reported unpaid invoices totalling millions, including at least one six-figure claim.
- Radley, founded in 1998, recorded a recent pre-tax loss of £5.5 million and falling revenues, a backdrop that preserved the brand name but risks the loss of its high-street presence and raises creditor and jobs questions during the wind-down.