Radley has been bought out of administration from the owners of Poundland in a deal which leaves the retailer’s shops at risk of closure. Gordon Brothers, which also owns LK Bennett, purchased the Radley brand, intellectual property and some assets in a pre-pack administration deal.

However, the takeover does not include Radley’s retail operations, which include 21 stores across the UK. It confirmed that 42 jobs would also be lost “with immediate effect”, as a result. It came after Radley hired administrators from FTI on Tuesday, after being hit by a slump in consumer demand and higher costs.

Handbag specialist Radley was founded by Australian designer Lowell Harder in London in the 1980s, starting from a stall in Camden Market.

Previous owner Freshstream, a private equity company, purchased the business in 2016 but reportedly put it up for sale earlier this year amid pressure on its finances.

In a statement, FTI said: “The administration team will guide and support affected team members over the coming weeks through the redundancy claims process.

“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.”

It is the latest rescue deal from Gordon Brothers, which purchased Poundland for £1 last year before overseeing significant store closures to help drive the brand’s turnaround.

A discount furniture retailer, established in 1967, has entered administration, putting nearly 1,200 jobs at risk. The Original Factory Shop, which sells products including clothing and homeware, appointed administrators from Interpath Advisory last month.

The retailer operates 137 shops offering clothing, homewares, beauty products, toys, and seasonal items. While all physical stores will continue trading as a going concern during the assessment of options. The retailer has now shut down its online operations as its future remains up in the air.

Interpath highlighted that high cost inflation, weak consumer confidence, and logistical issues with a third-party warehouse significantly affected sales. 

The Original Factory Shop’s troubles have been driven by challenging trading conditions, linked to high cost inflation, fragile consumer confidence and rising labour costs caused by government policies, according to administrators. 

Problems were then said to have been exacerbated by issues linked to its third-party warehouse and logistics operator, weakening sales further.

Rick Harrison, managing director at Interpath and joint administrator, said: “The Original Factory Shop has long-been a cornerstone of local high streets up and down the country.

“Unfortunately, however, trading challenges have impacted the business such that the company had to be placed into administration.

“Over the coming weeks, we will be working closely with TOFS dedicated team of employees as we endeavour to operate all stores as a going concern while we assess options for the business.”

Administrators Interpath said the chain’s 40 stores across the UK and seven concessions in Ireland will continue to trade while they look at options for the firm but its website will shut.

They said 109 redundancies are being made across the firm’s head office in Glasgow and its warehouse and distribution centre in Bellshill, Lanarkshire.

Interpath confirmed that Quiz concessions in New Look and Matalan stores in the UK are not included in the administration and remain unaffected.

Quiz employs 565 workers in total.

A discount furniture retailer, established in 1967, has entered administration, putting nearly 1,200 jobs at risk. The Original Factory Shop, which sells products including clothing and homeware, appointed administrators from Interpath Advisory last month.

The retailer operates 137 shops offering clothing, homewares, beauty products, toys, and seasonal items. While all physical stores will continue trading as a going concern during the assessment of options. The retailer has now shut down its online operations as its future remains up in the air.

Interpath highlighted that high cost inflation, weak consumer confidence, and logistical issues with a third-party warehouse significantly affected sales. 

The Original Factory Shop’s troubles have been driven by challenging trading conditions, linked to high cost inflation, fragile consumer confidence and rising labour costs caused by government policies, according to administrators. 

Problems were then said to have been exacerbated by issues linked to its third-party warehouse and logistics operator, weakening sales further.

Rick Harrison, managing director at Interpath and joint administrator, said: “The Original Factory Shop has long-been a cornerstone of local high streets up and down the country.

“Unfortunately, however, trading challenges have impacted the business such that the company had to be placed into administration.

“Over the coming weeks, we will be working closely with TOFS dedicated team of employees as we endeavour to operate all stores as a going concern while we assess options for the business.”

Administrators Interpath said the chain’s 40 stores across the UK and seven concessions in Ireland will continue to trade while they look at options for the firm but its website will shut.

They said 109 redundancies are being made across the firm’s head office in Glasgow and its warehouse and distribution centre in Bellshill, Lanarkshire.

Interpath confirmed that Quiz concessions in New Look and Matalan stores in the UK are not included in the administration and remain unaffected.

Quiz employs 565 workers in total.

Poundland has announced that its restructuring programme which saw almost 150 stores close and helped it avoid plunging into administration is complete, but it says there’s still “much to do”. The major shake up was set in motion in June after the struggling high street band was bought by American investment firm Gordon Brothers from previous owners Pepco following a slump in sales.

In a bid to revive the chain’s fortunes, Poundland secured High Court approval last August for the plan which involved cutting its estate down from 800 to 651 stores, and reducing its work force from 14,200 to around 12,000 at the end of 2025, representing approximately 2,200 job losses. In a statement, Poundland has now said the wave of closures has come to an end. The company said: “Any future closures will be a consequence of standard business-as-usual lease events expected at a retailer with a large store network.”

However, Poundland emphasised that the work to turnaround their finances isn’t over. Christmas trading figures showed like-for-like underlying sales dropping 2.9% in the quarter to December 28 after the chain dropped prices.

However, comparable store sales by volume saw a 2% increase. Poundland managing director Barry Williams said: “While there’s been significant progress as we refocus and re-energise the business with lower prices and a sharper offer, we know we still have much to do.

He added that the chain’s focus on their costs has, “without doubt, given us a platform for future growth, but no sustainable turnaround can be based on cost management alone”.

“That’s why our focus in 2026 will be on delivering the kind of ranges and price simplicity our customers want right across the store – in clothing, homewares as well as our core grocery aisles,” he added.

Mr Williams said their customers had told them “loud and clear they want a simpler, more focused Poundland that keeps its promise of amazing value”.

“We have clear indications from the work we’ve already done that we’re on the right track.”

In a statement last year prior to the formal approval of the closures, Mr Williams said: “It’s sincerely regrettable that this plan includes the closure of stores and distribution centres, but it’s necessary if we’re to achieve our goal of securing the future of thousands of jobs and hundreds of stores.

“It goes without saying that if our plans are approved, we will do all we can to support colleagues who will be directly affected by the changes.”

A beauty brand popular amongst UK shoppers has shut all of its British stores and paused its online sales in the UK. The company said it had exhausted all viable options, but in the end, it had no choice but to go into administration. The move will reportedly lead to redundancies. Malin + Goetz has seven UK stores, all in London. They are found in Islington, Canary Wharf, Soho, Battersea, Seven Dials, Spitalfields and Borough Yards. 

Its products are also sold through third-party retailers such as Liberty, John Lewis and Space NK. The brand specialises in skincare products, haircare, candles and fragrances. It was founded in the Chelsea neighbourhood of New York City in 2004 by founders Matthew Malin and Andrew Goetz. A short maintenance period will mean online UK sales will pause while the company shifts e-commerce operations to its US team. 

A spokesperson told TheIndustry.beauty: “Following an extensive review of the business and after exhausting all viable alternatives, we have taken the difficult but necessary decision to put our UK business into administration, resulting in the closure of all UK stores that we operate and our head office.

“We recognise the impact this will have on our colleagues and customers, and the loss of jobs is deeply regrettable, but unavoidable under the circumstances.”

They added: “This structural change will allow the business to focus on our e-commerce and third-party retail channels where our customers increasingly choose to shop, while enabling us to operate more efficiently, and better serve customers in the long term.”

A new partnership with distributor Discovered Brands means that customers can continue to get Malin Goetz products through third-party retailers in the UK. 

Among the brand’s best-sellers are its travel skincare kit, its advanced renewal moisturiser, its Vitamin E face moisturiser and its all-purpose moisture balm. 

Telford & Wrekin Council said it is “committed to supporting residents and businesses affected by difficult circumstances, including those impacted by the immediate closure of TGI Fridays at Telford Centre”. It added: “For employees now facing redundancy, a range of practical support is available to help them take the next step towards new employment, training or reskilling opportunities.” The council said residents looking for a new role can get free help including CV advice and guidance on job opportunities.

Council cabinet member Councillor Shirley Reynolds said: “We know this is an incredibly difficult time for the employees and families affected by the sudden closure of TGI Friday’s. 

“Our priority is to ensure people know that support is available right now. 

“Whether it’s help updating your CV, accessing new training, or connecting with local employers, our teams are here to provide one‑to‑one support to help residents move forward with confidence.”

More than 450 TGI Fridays staff members were made redundant earlier this week after outlets across England and Wales were closed.

The American-style dining chain on Wednesday said most of its sites will remain open after a rescue deal was secured.

Liberty Bar and Restaurant Group, the company that runs TGI Fridays’ UK restaurants, appointed administrators from Interpath Advisory on Tuesday.

They immediately sold the business and its assets to a subsidiary of Sugarloaf, the firm behind the global TGI Friday brand.

Sugarloaf had bought the UK business two months earlier from private equity firm Calveton UK and Breal Capital.

Administrators confirmed the pre-pack administration deal would safeguard 33 restaurants and transfer 1,384 workers to the new vehicle.

“We have been working closely to explore all available options for securing the long-term future of TGI Fridays in the UK, and believe that this is the best outcome for the business, preserves jobs, and offers a strong platform for success and growth,” said Phil Broad, global president of TGI Fridays.

This week, the UK Hospitality trade body warned more than 2,000 pubs, restaurants and hotels could shut their doors this year unless the Government makes sector-wide changes to “staggering” incoming business rate increases.

A UK company that sells to huge brands including Harrods and M&S has plunged into administration. It comes after a “period of trading losses” with the majority of staff losing their jobs.

Planova Leeds, formerly known as Bartuf, is a designer, manufacturer and supplier of retail displays. As of 2025, the company, which is based on Carr Crofts Drive in Leeds, had around 50 employees but entered administration at the start of this year. According to its website, Planova Leeds has a range of big-name customers, including Harrods, M&S, Co-op, Lidl, Aldi, Sainsbury’s and WH Smith.

As reported by Insider Media, Gordon Thomson and Gareth Harris of RSM UK Restructuring Advisory LLP were appointed as joint administrators of Planova Leeds on Monday (January 12).

RSM said in a statement: “The administration was triggered due to creditor action which followed a period of trading losses.

“Unfortunately, the majority of staff have been made redundant, but some employees have been retained to help with the administration process.”

Financial accounts for the year ending December 31, 2024, show the business owed £1.8million to creditors. It employed 54 staff at the time.

Planova Leeds is the latest in a long list of UK companies that have plunged into administration recently. On Wednesday (January 14), it was revealed that brewery Phantom Brewing Company entered administration last week.

Documents have revealed that debts totalling £2.289 million are owed to creditors. David Rubin and David Birne, of insolvency firm Begbies Traynor, were appointed to manage the situation on December 23.

Meanwhile, UK broadband provider G Network was acquired by FitzWalter Capital earlier this month. The broadband provider, which counts some 25,000 customers, has racked up around £300million in debt.

Just days after acquiring the company, FitzWalter Capital, a distressed debt specialist, applied to appoint administrators at G Network. Alvarez & Marsal Europe LLP were formally appointed as the joint administrators for G Network on Monday, January 12.

Planova Leeds has been approached for comment.

Hundreds of jobs at a UK contruction firm have been protected after it went into administration, according to reports. Thurston Group Ltd, a modular construction specialist firm based in Wakefield, West Yorkshire produces offsite and modular buildings across various sectors, including education, healthcare, industrial and commercial.

It’s has been operating for more than five decades and has a number of sites in Yorkshire. But the firm, which had a turnover of £47million to the year ending November 1, 2024, has faced financial challenges in recent times and on December 22 called in corporate recovery company Leonard Curtis, Wakefield Express reports.

Hilary Pascoe, Andrew Poxon and Mike Dillon from Leonard Curtis were appointed as joint administrators of Thurston Group Limited, the main trading business, Thurston Holdings Limited, and Thurston Group Estates Limited this week.

Thurston Group Limited was established in 1970, and employed 275 people.

Last month, Leonard Curtis had been formally instructed to conduct an accelerated mergers and acquisitions (AMA) to find a buyer, with GCH Corporation Ltd confirmed as the new owner on December 22, 2025.

GCH Corporation Ltd describes itself on its website as a “privately owned and personally financed group of companies” that owns industrial manufacturing and distribution businesses.

According to the outlet, the deal has successfully safeguarded more than 200 jobs. Express.co.uk has reached out to GCH Corporation and Leonard Curtis to confirm how many jobs have been saved.

GCH chief executive Cassie Hutchings said she was pleased to confirm the acquisition, protecting jobs and securing the business’ future.

“Thurston is a respected UK manufacturer of modular buildings with a strong heritage and deep sector expertise,” Ms Hutchings said.

“As a long-term, privately owned industrial group, GCH is committed to stabilising and investing in the business.

“We are excited to welcome Thurston into the GCH family and look forward to supporting its next phase of growth.”

Ms Pascoe said: “We are delighted to have completed a sale and wish the new owners every success.”

Poundland has revealed that an additional 10 UK outlets will close, bringing the total number of shops disappearing from British high streets to 30 during October and November.

The struggling retailer has confirmed it will revert to straightforward £1, £2 and £3 grocery pricing throughout all its UK branches as the chain attempts to revive its fortunes after narrowly escaping administration.

The discount retailer pledged to price approximately 60% of grocery products at £1 throughout its network following the alterations, which follows a five-month trial at 17 outlets in the West Midlands.

The company stated the decision will see it return “back to its roots” and signal “the end of additional price complexity”, with straightforward pricing scheduled to be implemented across general merchandise and clothing ranges in forthcoming months.

The total of Poundland outlets is anticipated to fall to roughly 650 or 700 from 800 earlier this year as rental agreements expire or property owners exercise any option to serve notice.

The chain has confirmed that massive clearance sales are occurring in branches which are shutting down to clear the merchandise.

A Poundland spokesperson said: “Customers will be able to take advantage of significant savings as these stores prepare for closure in the days ahead.

“The reductions of up to 40pc will see items marked down in price until they’re sold and cover all the stock in each store from homewares to groceries and clothing to health and beauty.”

In addition to the 20 stores already slated for closure in the next two months, an additional 10 will be shuttered in November as leases expire, according to the chain. The retailer announced in June, after being acquired by investment firm Gordon Brothers, that it intended to close 68 shops and two warehouses in the UK, putting 1,300 jobs at risk.

Darren MacDonald, Poundland’s UK country manager, said: “We know how disappointing it is when we leave a store, but before we close our doors for a final time, we’re determined to say goodbye by offering even more amazing value to customers.

“The special reductions, on top of the value we provide in every store, will help us leave locations we’re leaving with pride.

“And when we close our doors, we look forward to welcoming customers to one of the hundreds of Poundland stores we’ll continue to operate right across the UK.”

11 Poundland stores have already closed this month:

• Twickenham (October 5)
• Westhoughton (October 5)
• Market Harborough (October 9)
• Lowestoft (October 10)
• Colne (October 11)
• Rochdale (October 13)
• Leicester (October 17)
• Tenby (October 18)
• Blackpool – Cherry Tree Retail Park (October 25)
• Deal (October 27)
• Thurrock (October 27

The retailer is set to shut one more store before the end of October:

Walsall (October 29)

While the other previously announced Poundland closures for November are:

• Matlock (November 2)
• Carlisle (November 9)
• Burnley (November 9)
• Witham (November 12)
• Sidcup (November 14)
• Peckham (November 20)
• Launceston (November 29)
• Cameron Toll (January 20, 2026)

A further 10 Poundland closures have now been added to the list:

• Hailsham (November 2)
• Perry Barr (November 2)
• Loughborough (November 14)
• New Malden (November 16)
• Dalston (November 24)
• Beeston (November 27)
• Melton Mowbray (December 4)
• Droitwich (December 9)
• Hempstead Valley (December 31)
• Bexhill (January 5, 2026)

All these Poundland closures are due to leases expiring.

The group also noted that these changes have helped reduce shoplifting by over a quarter in trial stores, by discontinuing the sale of higher-priced items that were attractive to thieves, such as £5 dishwasher tablets.

As part of its recovery plans, Poundland has managed to avoid collapse following High Court approval for a major restructuring plan earlier this week. The retailer was on the brink of running out of money just days before the approval.

The scheme will inject up to £60 million of new funding to keep the retailer afloat and allows it to proceed with a store closure programme. This will result in 68 shops closing, affecting around 1,000 workers.

Barry Williams, Poundland’s managing director, said: “Customers have told us loud and clear during these pilots that they will back a simpler, more focused Poundland that keeps its promise of amazing value.

“We’ve heard them, and the clear success of our pilot is why I’m confident that a Poundland that’s focused on the simple value our customers expect, has a bright future.”

In addition to the pricing overhaul, Poundland will also roll out a re-focused grocery range. It has already been extended to five stores outside of the West Midlands, in Manchester, Liverpool, Hanley, Brixton and Wandsworth.

Poundland stated that when complete, around 60% of grocery items will be priced at £1, 20% will be at £2, and 20% at £3. The firm, which was founded in Burton upon Trent, Staffordshire, in 1990, was sold by Pepco Group to Peach Bidco, a subsidiary of private equity firm Gordon Brothers, for £1 in June.