Around 400 employees at the well-established shoe retailer Russell & Bromley are facing an uncertain future following its 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. These locations will remain operational as administrators explore various options for their future.
The fate of these stores ranges from potential closure to the possibility of another company taking over operations under the Russell & Bromley brand in collaboration with Next and store owners. Established in Sussex in 1879, the family-owned Russell & Bromley prides itself on its British heritage. However, the retailer has encountered challenges in a highly competitive market, experiencing declining sales and widening losses.
Andrew Bromley, the chief executive of the shoe chain and a family member, explained that after a strategic review with external advisors, the decision was made to sell the Russell & Bromley brand to ensure its future. He expressed gratitude to the staff, suppliers, partners, and customers for their ongoing support.
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