Around 400 employees at the renowned shoe store chain Russell & Bromley are facing an uncertain future following its acquisition by fashion powerhouse Next. Although Next has purchased the Russell & Bromley brand and certain assets, the transaction excludes 33 stores and nine concessions in the UK and Ireland, which will remain operational as administrators evaluate potential options.
Various outcomes are being considered, ranging from closure to potential management under Russell & Bromley by another company, including Next, and store owners. Established in Sussex in 1879, the family-owned Russell & Bromley prides itself on its British heritage. However, the company has struggled in a competitive market, experiencing declining sales and widening losses.
Andrew Bromley, the shoe chain’s chief executive and a family member, stated, “Following a thorough review with external advisors, we have made the tough decision to sell the Russell & Bromley brand.” He emphasized that this decision was crucial to secure the brand’s future and expressed gratitude to staff, suppliers, partners, and customers for their longstanding support.
In other news, beauty brand Malin + Goetz has gone into administration, resulting in the closure of its seven UK stores and impacting over 70 jobs. While online orders are temporarily suspended, customers can still purchase Malin + Goetz products through third-party retailers like Liberty, John Lewis, and Space NK.