In a significant blow to the UK high street, the luxury footwear retailer Russell & Bromley has collapsed into administration, leading to the immediate closure of two stores and placing 31 additional locations at risk. This development comes despite a last-minute rescue deal struck by retail giant Next, which has acquired the brand but not the majority of its physical shops.
Initial Store Closures Announced
The first two stores to shut their doors are located in Harrogate and Exeter. The Harrogate branch, situated at 7 James Street, has displayed posters in its window stating: “Store closing down. All stock reduced. 20% off original price – everything must go.” Similarly, Exeter’s High Street outlet has confirmed its closure, with shoppers offered discounts of up to 20 percent on selected sale items as the chain liquidates stock.
Next Steps In with Rescue Acquisition
Next has intervened to secure the future of the Russell & Bromley brand, paying £2.5 million for the intellectual property and an additional £1.3 million for a portion of its current inventory. However, this acquisition is limited in scope, as Next has opted to purchase only three out of the retailer’s 36 standalone stores: those in Bluewater, Chelsea, and Mayfair.
In an official statement, Next expressed its commitment to revitalising the brand: “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.”
Executive Comments on the Sale
Andrew Bromley, chief executive of Russell & Bromley, commented on the difficult decision: “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.” The collapse puts approximately 440 jobs in jeopardy across the chain.
Stores Excluded from the Next Deal
The following Russell & Bromley stores were not included in the Next acquisition and now face an uncertain future, with closures potentially imminent:
- Bath, Somerset
- Belfast, Northern Ireland
- 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
- Edinburgh, City of Edinburgh
- Exeter, Devon
- Glasgow, Glasgow City
- Guildford, Surrey
- Hampstead, Greater London
- Harrogate, North Yorkshire
- Jermyn Street, Greater London
- 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
Additionally, several outlet stores and concessions are affected, including locations in Ashford, Cheshire Oaks, Gunwharf Quays Portsmouth, Swindon, and various Fenwicks department stores across the UK. Stores in the Republic of Ireland, such as those in Dublin and Cork, are also at risk.
This situation highlights the ongoing challenges faced by traditional retailers on the British high street, as even established brands struggle to adapt to changing consumer habits and economic pressures.
