Fears have arisen concerning the future of numerous Russell & Bromley shoe stores following the brand’s recent sale. The renowned fashion retailer Next has acquired the brand name and certain assets but excluded its 33 stores and nine concessions in the UK and Ireland, which collectively employ around 400 individuals.
Established in 1879 in Eastbourne, East Sussex, the family-owned Russell & Bromley has been a proud British brand. However, the company has faced challenges in a highly competitive market, experiencing declining sales and increasing losses.
The sale to Next was facilitated through a pre-pack insolvency process overseen by Interpath, an advisor appointed in October to explore options. Next will take over the Russell & Bromley brand, intellectual property, and operate three stores in Chelsea, Mayfair, and the Bluewater Shopping Centre under license. The transaction includes the sale of the company name and intellectual property for £2.5 million, with Next paying £1.3 million for stock and absorbing around 40 staff members.
Andrew Bromley, a family member and the CEO, expressed, “Following a strategic review with external advisors, we have made the tough decision to sell the Russell & Bromley brand to secure its future.” He extended gratitude to staff, suppliers, partners, and customers for their longstanding support.
The fate of the remaining 33 stores and nine concessions not part of the acquisition remains uncertain. The joint administrators are evaluating various options, from potential closure to seeking another company to operate them under the Russell & Bromley banner if a deal can be reached with Next or store owners.
Will Wright, the UK chief executive of Interpath, emphasized the brand’s heritage and commitment to quality craftsmanship. He affirmed the intention to continue operating the remaining stores while exploring available options.
Next stated, “This acquisition ensures the continuity of the beloved British footwear brand. Next aims to build on this legacy, providing operational stability and expertise to support Russell & Bromley’s future endeavors in designing premium footwear and accessories.”
Outlets Stores
Concessions
Republic of Ireland Stores and concessions
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