With the last 20 years doing more to change how people shop than the last 200, even some of the biggest names in fashion have struggled with profitability and old business models in a changing landscape.
More than 100 years after it was established out of Seattle in 1920, outdoor clothing and recreation gear Eddie Bauer filed for Chapter 11 bankruptcy in February 2026.
British shoe retailer and high street mainstay Russell & Bromley entered administration proceedings with total debts of more than £59 million ($79 million USD) at the start of the year and has since closed more than 40 stores.
Radley bag and accessories chain shutting down all stores
Founded in 1998 by former Camden Market stall vendor Lowell Harder, London-based leather handbag and accessories brand Radley was once a major high street brand operating dozens of stores across the United Kingdom while also selling at British department store giants such as John Lewis and Marks and Spencer.
But amid flagging sales, the company entered administration in May 2026 and was subsequently bought out by UK-based variety store brand Poundland owners Gordon Brothers. The American retail investment firm also acquired British fashion brand LK Bennett out of administration in January 2026.
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After preliminary cost-cutting that included axing 42 of the 300-plus jobs, the accessories chain is now permanently closing all 21 of its physical stores by the start of September.
The Radley website currently states that all physical stores are going to “close soon” and urges “hurry to your nearest store” for liquidation sales of up to 70%. The shutdowns include the two Radley flagship locations in London and Glasgow as well as 19 outlet stores in different parts of the United Kingdom.
The website remains up, with different purses and other products available to view and scroll through, but no longer accepting online orders.
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Which Radley stores are closing, holding liquidation sales
“Born in the heart of the Capital in 1998, Radley London have always been inspired by women who grab life by the handles,” read the brand’s description of itself prior to the collapse. The brand also sold items such as jewelry, watches, eyewear and cosmetics items.
The Gordon Brothers previously stated plans to operate Radley under an “asset-light” model in which the brand is sold exclusively through department stores and retail partners.
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As part of the purchase, the investment firm also owns intellectual property rights to the Radley name.
“The administration appointments follow 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,” FTI Consulting, the company overseeing Radley’s administration process, said in a statement back in May 2026.
The closures also mean that over 300 employees working at the locations are now suddenly left out of work.
Gordon Brothers’ usual model is to purchase retail companies on the brink of financial collapse and gut them while keeping the brand.
Related: 153-year-old footwear retailer quietly closes 40 stores