In a significant development for Britain's struggling retail sector, fashion giant Next has stepped in to acquire the historic footwear and handbag retailer Russell & Bromley. However, this rescue deal offers only partial salvation, securing the future of just three outlets while leaving the majority of the chain's physical presence hanging in the balance.
A Limited Lifeline for a Heritage Brand
The administrators from Interpath have confirmed that Next will pay £2.5 million for the Russell & Bromley brand and its intellectual property, with an additional £1.3 million allocated for a portion of existing stock. This transaction ensures the continuation of the brand, which was originally established in Sussex back in 1879, but it provides no guarantee for the vast majority of its retail locations.
Only three specific stores have been included in the acquisition and are therefore safe from immediate closure: the prestigious Chelsea and Mayfair branches in London, along with the outlet at the Bluewater Shopping Centre in Kent. This selective approach means that 33 other Russell & Bromley shops across the United Kingdom, plus nine concessions operating within Fenwicks department stores, now face an uncertain future.
Stores and Concessions Facing Potential Closure
The full list of locations not included in the Next deal and consequently at risk of closure is extensive, spanning numerous towns and cities. These include:
- 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
Furthermore, several outlet stores and all UK concessions are under threat. The outlet locations at risk are in Ashford, Kent; Cheshire Oaks, Cheshire; Gunwharf Quays Portsmouth, Hampshire; and Swindon, Wiltshire. The nine Fenwicks concessions, situated in Canterbury, Newcastle, Kingston, Colchester, Bracknell, Tunbridge Wells, and York, also face potential shutdown.
International Operations Also Affected
The uncertainty extends beyond British shores, impacting the brand's presence in the Republic of Ireland. Stores on Dublin's Grafton Street and in Kildare, along with concessions in Dublin's Arnotts and Cork's Brown Thomas, are similarly at risk following their exclusion from the Next acquisition.
Statements from Key Parties
In an official statement, Next outlined its vision for the acquired brand, saying: "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."
Andrew Bromley, chief executive of Russell & Bromley, explained 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."
Will Wright, Interpath’s UK chief executive, provided an update on the ongoing situation: "Across its 147-year history, Russell & Bromley has been at the forefront of contemporary style. We’re pleased therefore to have concluded this transaction, which will preserve the brand and the commitment to quality craftsmanship that it has become so well known for. Our intention is to continue to trade the remaining portfolio of stores for as long as we can, while we explore the options available."
Broader Context for the UK High Street
This development occurs against a backdrop of persistent challenges for traditional British retailers. The high street has witnessed the demise of several household names in recent years, including Woolworths and Wilko, with others like WH Smith continually facing scrutiny over their survival prospects. The Russell & Bromley situation underscores the ongoing pressures of changing consumer habits, economic volatility, and intense competition from online retailers.
The administrators have confirmed they are actively exploring all possible options for the remaining stores and concessions, which will continue to operate in the interim. However, with hundreds of jobs now at risk across the country, this partial rescue deal highlights the fragile state of physical retail and the difficult choices facing heritage brands in the modern marketplace.
