Fashion giant Next has bought the historic Russell & Bromley shoe chain’s name but future of most of its stores hangs in the balance
Fears have grown for the future of dozens of Russell & Bromley shoe shops after only the brand was sold.
Fashion giant Next has snapped-up the name, along with certain other assets. But the deal does not include its 33 stores and nine concessions across the UK and Ireland, employing around 440 people.
Family-owned Russell & Bromley was founded in Sussex in 1879, and trades as a proudly British brand. However, the retailer has suffered in a cut throat market, with sales falling and losses widening.
The sale to Next was done through what is known as a pre-pack insolvency process overseen Interpath, an advisor appointed in October to explore options and help fund a five-year turnaround led by chief executive, Andrew Bromley, a family member
Interpath said Next would acquire the Russell & Bromley brand and other intellectual property, as well as the transfer of three Russell & Bromley stores in Chelsea, Mayfair and the Bluewater Shopping Centre.
Andrew Bromley said: “Following a strategic review with external advisers, we have taken the difficult decision to sell the Russell & Bromley brand.
“This is the best route to secure the future for the brand, and we would like to thank our staff, suppliers, partners and customers for their support throughout our history.”
A total of 33 stores and all nine concessions are not included as part of the transaction. They will remain open and continue to trade while the joint administrators “continue to assess options for them”.
Will Wright, Interpath’s UK chief exexutive, said: “Across its 147-year history, Russell & Bromley has been at the forefront of contemporary style. We’re pleased therefore to have concluded this transaction, which will preserve the brand and the commitment to quality craftmanship that it has become so well known for.
He added: “Our intention is to continue to trade the remaining portfolio of stores for as long as we can, while we explore the options available.”
Stores not part of the transaction and which will continue to trade in administration
- Bath
- Belfast
- Birmingham
- Brent Cross
- Brighton
- Brompton
- Cambridge
- Canary Wharf
- Cheltenham
- Chester
- Covent Garden
- Edinburgh
- Exeter
- Glasgow
- Guildford
- Hampstead
- Harrogate
- Jermyn Street
- Leeds
- Manchester
- Oxford
- Paddington
- Regents Street
- Richmond
- Stratford
- Westfield White City
- Winchester
Outlet stores
- Cheshire Oaks
- Gunwharf Quay, Portsmouth
- Swindon
Concessions
- Fenwicks Canterbury
- Fenwicks Newcastle
- Fenwicks Kingston
- Fenwicks Colchester
- Fenwicks Bracknell
- Fenwicks Tunbridge Wells
- Fenwicks York
Republic of Ireland Stores and concessions
- Dublin Grafton Street
- Kildare
- Arnotts – Dublin
- Brown Thomas – Cork
