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Major Retailer Returns to British High Streets After Being Saved From Administration
The rescue deal left most of the chain’s 36 stores at risk, but Next said it will keep trading the brand.
- Russell & Bromley's recently shuttered store in Richmond, south west London, has reopened under Next's ownership in a retail location near John Lewis, marking the luxury footwear brand's return to British high streets.
- The 147-year-old shoe brand entered administration on January 21, with nearly all of its 36 stores at risk before Next snapped up the business in a rescue deal, leaving 440 staff and most locations in limbo.
- Next paid £2.5 million for the brand and intellectual property, plus £1.3 million for stock, while closing 33 stores nationally and preserving only three in Chelsea, Mayfair and Bluewater in Kent.
- The Richmond store had remained empty since last month with bare shelves before Next's reopening, fulfilling the company's March commitment to operate the brand in the near future.
- Interpath UK chief executive Will Wright stated the company intends 'to continue to trade the remaining portfolio of stores for as long as we can, while we explore the options available,' with Oxfordshire expansion or Next integration still under consideration.
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13 Articles
13 Articles
Worcester News+3 Reposted by 3 other sources
Major retailer returns to British high streets weeks after closing down 33 stores
Shoe retailer, Russell & Bromley, has returned to high streets in Next stores.
·Worcester, United Kingdom
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bucksfreepress.co.uk+3 Reposted by 3 other sources
Major retailer returns to British high streets after being saved from collapse
Shoe retailer, Russell & Bromley, has returned to high streets in Next stores.
·High Wycombe, United Kingdom
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Total News Sources13
Leaning Left0Leaning Right0Center11Last UpdatedBias Distribution100% Center
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