Around 400 employees at the renowned shoe retailer Russell & Bromley are facing an uncertain future following the acquisition by fashion powerhouse Next. While 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.
Possible outcomes range from closure to another entity taking over the stores under the Russell & Bromley brand, contingent upon negotiations with Next and store proprietors. Established in Sussex in 1879, the family-owned Russell & Bromley has emphasized its British heritage but has struggled in a fiercely competitive market, experiencing declining sales and widening losses.
Andrew Bromley, the CEO and a family member, commented, “Following a strategic review with external advisors, we have made the tough decision to sell the Russell & Bromley brand. This decision aims to secure the brand’s future, and we express gratitude to our employees, suppliers, partners, and customers for their longstanding support.”
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