Fears have risen concerning the future of numerous Russell & Bromley shoe outlets following the brand’s recent sale. Next, a prominent fashion retailer, has acquired the brand and certain assets, excluding its 33 stores and nine concessions in the UK and Ireland. The family-owned Russell & Bromley, established in 1879 in Eastbourne, East Sussex, faces challenges in a competitive market with declining sales and increased losses.
The sale to Next was facilitated through a pre-pack insolvency process overseen by Interpath, an advisor appointed to explore options and support a five-year turnaround led by CEO Andrew Bromley. Next will take over the Russell & Bromley brand, intellectual property, and three stores in Chelsea, Mayfair, and the Bluewater Shopping Centre under a license agreement. The transaction involves a £2.5 million sale of the company name and IP, with Next paying £1.3 million for stock, and around 40 staff members transitioning to Next.
Andrew Bromley stated that the decision to sell the brand was made after a strategic review with external consultants to ensure the brand’s future. Interpath’s UK CEO, Will Wright, emphasized the brand’s longstanding reputation for contemporary style and quality craftsmanship. The remaining 33 stores and nine concessions will continue to operate as administrators evaluate future options, which may include closure or potential takeover by another company in partnership with Next and store owners.
Next expressed commitment to preserving the British footwear brand’s legacy and providing operational support for its continued success in designing premium footwear and accessories. The acquisition aims to secure the future of Russell & Bromley and facilitate its return to delivering world-class products for years to come.
