Fears have heightened over the fate of numerous Russell & Bromley shoe stores following the brand’s recent sale. Next, a prominent fashion retailer, has acquired the brand name and certain assets, excluding its 33 stores and nine concessions in the UK and Ireland, which employ about 400 individuals.
Established in 1879 in Eastbourne, East Sussex, Russell & Bromley, a family-owned business, has faced challenges in a competitive market, experiencing declining sales and widening losses.
The sale to Next was executed through a pre-pack insolvency process overseen by Interpath, an advisor appointed in October to explore options and support a five-year turnaround led by Chief Executive Andrew Bromley, a family member.
Interpath confirmed that Next would take over the Russell & Bromley brand, intellectual property, and three stores in Chelsea, Mayfair, and the Bluewater Shopping Centre under license. The sale price for the brand and IP is £2.5 million, with Next paying £1.3 million for stock. Approximately 40 employees will transition to Next.
Andrew Bromley stated, “Following a strategic review with external advisors, we have made the tough decision to sell the Russell & Bromley brand to secure its future. We appreciate the support of our staff, suppliers, partners, and customers throughout our history.”
Notably, the 33 stores and nine concessions excluded from the sale will continue operations as the joint administrators explore various options, including potential closure or collaboration with another entity.
Will Wright, Interpath’s UK chief executive, emphasized the brand’s long history and commitment to quality craftsmanship, expressing satisfaction with the preservation of the brand through the transaction.
Next affirmed its commitment to maintaining the legacy of the British footwear brand and providing operational stability to support Russell & Bromley’s future endeavors in designing premium footwear and accessories.
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Outlet stores
Concessions
Republic of Ireland Stores and concessions
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