Around 400 employees at the well-established shoe retailer Russell & Bromley are facing an uncertain future following a recent acquisition by fashion powerhouse Next. Although Next has obtained the Russell & Bromley brand and certain assets, the transaction excludes 33 stores and nine concessions in the UK and Ireland, which will continue operations as administrators explore potential solutions.
Various scenarios are being considered, ranging from closure to potential management by another entity under the Russell & Bromley brand in collaboration with Next and store owners. Founded in 1879 in Sussex, Russell & Bromley prides itself on its British heritage but has struggled in a competitive market, experiencing declining sales and widening losses.
In a statement, Andrew Bromley, the CEO of Russell & Bromley and a family member, explained that after a thorough review with external advisors, the decision was made to sell the brand as the best course of action to ensure its future. He expressed gratitude to the staff, suppliers, partners, and customers for their longstanding support.
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