British Store Chain to Close 21 Stores

A company has financial problems.

Radley, a luxury brand, was bought by the owner of Poundland, but its stores may close.

The new owner, Gordon Brothers, will cut 42 jobs as part of the deal.

The deal includes Radley's brand, but not its two UK shops or 19 concessions.

These shops will stay open for about 14 weeks to sell remaining stock. The administrators have been contacted for more information.

Radley lost £5.5 million last year, and its sales dropped from £72 million to £65.8 million. The company is known for its Scottie dog logo.

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Radley started as a stall in London's Camden Market in 1998.

Carolyn D'Angelo from Gordon Brothers said they are honored to own Radley and plan to expand the brand to new markets and consumers.

Nimit Shah from Gordon Brothers said they will unlock value and expand Radley into new markets while staying true to the brand.

FTI Consulting said the administration appointment was due to challenging economic conditions, including low customer demand and high operating costs.

Flying Tiger Copenhagen may be taken over, affecting around 900 stores worldwide.

Flying Tiger sells budget-friendly products like homeware, stationery, and toys.

The company has around 80 shops in the UK and is owned by Danske Bank and Nordea.

A report suggests Flying Tiger may be bought by private equity fund Modella Capital, with a deal announcement expected soon. City sources confirmed the news.

This comes after financial advisers were appointed to explore options for Flying Tiger, including a sale, earlier this year.

Flying Tiger reported a record-breaking performance in 2024 with revenues of DKK 5.2 billion. The company is doing well despite the challenges.

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