Famous British handbag chain vanishes from the high street forever as it closes last of 21 stores

A POPULAR fashion chain has closed its doors for the last time after shuttering 21 stores. The closure comes after the chain fell into administration earlier this year in May. Radley launched a 70 per cent clearance sale before closing down Radley has now closed all of its physical stores, following the acquisition of its brand and intellectual property by Gordon Brothers earlier this year. Prior to closing down, the company launched a 70 per cent clearance sale to help shift stock. Sign up for the Money newsletter Thank you! However, many shoppers had to visit the physical stores to take advantage as the brand’s website closed on August 19. According to FTI Consulting, Radley had fallen on hard times as it battled a “sustained period of challenging economic conditions.” Founded at London’s Camden Market in 1998 by Lowell Harder, Radley built its reputation in handbags and accessories. The company was also able to build a longstanding distribution partnership with John Lewis as well as other retailers. This closure of Radley comes at a time of uncertainty on the high street as many iconic and recognisable brands have struggled. Earlier this year, Claire’s Accessories collapsed into administration and shuttered all 154 of its standalone sites in April. Most read in Money Posh sleepwear brand, Peter Alexander, is also set to close its UK stores, citing difficult trading conditions as reason for the move. Unlike these brands, Harvey Nichols was fortunate enough to be rescued from the brink of collapse by Mike Ashley’s Frasers Group. Comment now