Katten and Squire Patton Boggs have taken the lead roles as prominent UK accessories brand Radley has been bought through a pre-pack administration by asset managers Gordon Brothers.
The accessories brand has recently come under pressure to find a new owner, while Gordon Brothers has made similar deals in the past, including its acquisition of Poundland last year, for £1.
Katten acted for Radley and administrators FTI Consulting, with a transatlantic team led by European restructuring head James Davison in London, and global restructuring co-chair Cindi Giglio and corporate partner Ilana Lubin in New York.
Davison, who moved to Katten at the start of this year following over five years at DLA Piper, said of the deal: ‘Radley is a well-loved British heritage brand, which we hope to see thrive under Gordon Brothers’ ownership, as many other global brands have done.’
He continued: ‘It has been a pleasure working with the exceptional teams at Radley, FTI Consulting and Gordon Brothers in order to deliver an outcome which preserves the Radley brand for future generations.’
Squire Patton Boggs was instructed by Gordon Brothers, with a team led by London restructuring partner Monika Lorenzo-Perez. The firm previously advised the asset manager on its acquisition of German consumer electronics brand Telefunken in 2023.
Gordon Brothers has purchased the Radley brand and IP assets, but the sale does not include the retailer’s stores, and it is understood that a number will close following the acquisition.
The asset manager said in a statement that the acquisition is part of its strategy ‘to establish a platform of leading UK heritage brands,’ with an approach that aims to unlock value through ‘strategic investment, global expansion and an asset-light operating model.’
Gordon Brothers senior managing director and head of brand operations Carolyn D’Angelo said in a statement: ‘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.’
