Major High Street Chain Acquisition Puts 33 Stores and 440 Jobs at Risk
In a significant development for the UK retail sector, fashion and homeware giant Next has acquired the historic footwear brand Russell & Bromley out of administration for £3.8 million. However, this rescue deal comes with a substantial human cost, placing approximately 440 employees at risk of redundancy across 33 stores that are not included in the transaction.
Historic Brand's Future Secured Amid Store Closures
The British footwear retailer, which was originally founded in Eastbourne, East Sussex back in 1879, currently operates from 36 standalone stores alongside nine concessions throughout the United Kingdom and Ireland. The acquisition, structured as a pre-pack administration deal, is expected to result in the closure of the majority of these physical locations, with only a select number continuing to trade under the new ownership.
Next has issued an official statement regarding the purchase, emphasising their commitment to preserving the legacy of this much-loved British brand. The company stated: "This acquisition secures the future of a much-loved British footwear brand. Next intends to build on this legacy and provide the operational stability and expertise to support Russell & Bromley's next chapter, allowing it to return to its core mission, the design and curation of world-class, premium footwear and accessories, for many years to come."
Family-Owned Business Ends Era with Strategic Sale
Andrew Bromley, Chief Executive of the previously family-owned Russell & Bromley, explained the difficult decision behind the sale. He commented: "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."
The move represents the end of an era for the family-run business, which has been a fixture on British high streets for nearly a century and a half. The strategic review ultimately concluded that selling to a larger retail operator offered the most viable path forward for preserving the brand's identity and product offerings.
Complete List of Affected Russell & Bromley Locations
The following stores across the UK and Ireland have been identified as being at risk of closure following the acquisition:
- Bath, Somerset
- Belfast, County Antrim
- Birmingham, West Midlands
- Brent Cross, Greater London
- Brighton, East Sussex
- Brompton, Greater London
- Cambridge, Cambridgeshire
- Canary Wharf, Greater London
- Cheltenham, Gloucestershire
- Chester, Cheshire
- Covent Garden, Greater London
- Dublin Grafton Street, County Dublin
- Edinburgh, City of Edinburgh
- Exeter, Devon
- Glasgow, Glasgow City
- Guildford, Surrey
- Hampstead, Greater London
- Harrogate, North Yorkshire
- Jermyn Street, Greater London
- Kildare, County Kildare
- Leeds, West Yorkshire
- Manchester, Greater Manchester
- Oxford, Oxfordshire
- Paddington, Greater London
- Regent Street, Greater London
- Richmond, Greater London
- Stratford, Greater London
- Westfield White City, Greater London
- Winchester, Hampshire
Outlet Stores and Concessions Also Affected
The potential closures extend beyond traditional high street locations to include several outlet stores and concessions:
Outlet Stores:
- Ashford, Kent
- Cheshire Oaks, Cheshire
- Gunwharf Quays Portsmouth, Hampshire
- Swindon, Wiltshire
Concessions:
- Arnotts concession, Dublin, County Dublin
- Brown Thomas concession, Cork, County Cork
- Fenwicks Canterbury, Kent
- Fenwicks Newcastle, Tyne and Wear
- Fenwicks Kingston, Greater London
- Fenwicks Colchester, Essex
- Fenwicks Bracknell, Berkshire
- Fenwicks Tunbridge Wells, Kent
- Fenwicks York, North Yorkshire
This comprehensive list illustrates the widespread geographical impact of the acquisition, affecting communities from major cities to regional towns across the British Isles. The retail landscape continues to evolve as larger chains consolidate their market positions, often at the expense of traditional high street presences.
