Around 400 employees at the renowned shoe retailer Russell & Bromley are facing an uncertain future following a sale to fashion powerhouse Next.
Although Next has acquired the Russell & Bromley brand and certain assets, the transaction excludes 33 stores and nine concessions in the UK and Ireland. These locations will continue operating while administrators explore potential options for them.
Various outcomes are on the table, ranging from closure to potential acquisition by another company to operate under the Russell & Bromley brand, in collaboration with Next and the store owners.
Established in Sussex in 1879, the family-owned Russell & Bromley prides itself on its British heritage. However, the business has struggled in a competitive market, experiencing declining sales and widening losses.
Andrew Bromley, the chain’s CEO and a family member, stated, “After a strategic review with external advisors, we have made the tough choice to sell the Russell & Bromley brand. This is the best path to safeguard the brand’s future, and we extend our gratitude to our staff, suppliers, partners, and customers for their longstanding support.”
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