Next Rescues Historic Retailer Russell & Bromley, Potential Closure for 33 Stores
Approximately 400 employees at the renowned shoe retailer Russell & Bromley are facing an uncertain future following its acquisition by fashion giant Next. While Next has purchased the Russell & Bromley brand and certain assets, the deal excludes 33 stores and nine concessions in the UK and Ireland, which are currently under review by the joint administrators.
Various outcomes are being considered, ranging from potential closures to the possibility of another company taking over the operations under the Russell & Bromley brand in collaboration with Next and store owners. Established in Sussex in 1879, the family-owned Russell & Bromley has a strong British heritage but has struggled in a competitive market, experiencing declining sales and widening losses.
Andrew Bromley, the CEO and a family member of the shoe chain, explained that the decision to sell the Russell & Bromley brand was made after a strategic review with external advisors. He expressed gratitude to the staff, suppliers, partners, and customers for their long-standing support.
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