Around 400 employees at the long-standing shoe store chain Russell & Bromley are facing an uncertain future following its acquisition by fashion powerhouse Next.
While Next has acquired the Russell & Bromley brand and certain assets, the transaction excludes 33 stores and nine concessions in the UK and Ireland. These locations will remain operational as administrators explore potential solutions.
Various outcomes are being considered, ranging from closures to potential partnerships with Next or other entities to sustain the Russell & Bromley brand.
Established in Sussex in 1879, the family-owned Russell & Bromley has built its reputation on British heritage. However, the retailer has struggled in a competitive market, experiencing declining sales and widening losses.
Andrew Bromley, the chain’s CEO and a family member, stated, “We have made the challenging decision to sell the Russell & Bromley brand after a strategic review with external advisors. This decision is aimed at securing the brand’s future, and we express gratitude to our staff, suppliers, partners, and customers for their longstanding support.”
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