The takeover includes the intellectual property assets, but does not include two UK shops in Covent Garden, London and Glasgow, Scotland, or its 19 concessions12:20, 27 May 2026Luxury handbag and accessories brand Radley has been snapped up by the owner of Poundland - but its stores are now set to close.‌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.‌The takeover includes the intellectual property assets of Radley, but does not include its two UK shops in Covent Garden, London and Glasgow, Scotland, or its 19 concessions.‌Drapers reports that these are expected to trade for roughly 14 weeks to clear stock. The Mirror has contacted administrators at FTI Consulting and Radley for clarification.Radley, which is known for its signature Scottie dog branding, suffered a pre-tax loss of £5.5million last financial year. Meanwhile, turnover dropped from £72million to £65.8million.‌The company was founded as a stall in London’s Camden Market in 1998.Carolyn D'Angelo, Senior Managing Director, Head of Brand Operations at Gordon Brothers, said: “We 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.”Nimit Shah, Managing Director at Gordon Brothers, said: “With 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.”‌In a statement, FTI Consulting said: “The 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.”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.Flying Tiger sells its own range of Scandi-style budget-friendly products, including everything from homeware, stationery and toys.‌It has around 80 shops in the UK and is owned by Danske Bank and Nordea.But a new report by The Times 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.It comes after financial advisers were reportedly appointed to explore options for Flying Tiger, including a sale, earlier this year.Article continues belowIn its latest results, Flying Tiger reported a "record-breaking" 2024 performance with revenues of DKK 5.2 billion.