Retail gloom takes toll on Radley

Radley, the upmarket leather goods maker, said it swung to a loss last year as a result of “incredibly challenging high street conditions”, which saw retailers slash prices to lure shoppers. Company accounts show that reorganisation costs of £1.7m dragged the group to a £737,000 loss in the year to the end of April, down from a £3.1m profit the previous year. Turnover fell from £45m to £41.2m.