Russell & Bromley SAVED from collapse – however greater than 30 shops and a whole bunch of jobs nonetheless in danger
Russell & Bromley has been saved from collapse – but more than 30 stores and hundreds of jobs are still at risk.
The shoe brand – a favourite of the Princess of Wales – has been bought by Next in a deal that incudes just three of its 36 stores.
That means the remaining 33 shops and nine concessions are at risk of closure with the loss of hundreds of jobs.
Russell & Bromley employs a total of 440 staff.
The Princess of Wales wearing Russell & Bromley shoes
Chief executive Andrew Bromley, whose family set up the company in 1879, said: ‘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 rescue deal with Next includes Russell & Bromley stores in Chelsea, Mayfair and the Bluewater Shopping Centre.
But the future of the remaining stores – from Winchester and Oxford to Manchester, Leeds and Edinburgh – remains in doubt.
The stores will remain open and continue to trade – at least for now.
Despite its heritage – and popularity among the royals including Queen Camilla and Sophie, Duchess of Edinburgh – the company has struggled financially in recent years before crashing into administration.
Administrators at Interpath said they ‘continue to assess options’ for the stores not included in the deal with Next.
Will Wright, Interpath’s UK chief executive, said: ‘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 craftmanship that it has become so well known for.’
He added: ‘Our intention is to continue to trade the remaining portfolio of stores for as long as we can, while we explore the options available.’
Russell & Bromley was set up in Eastbourne, East Sussex, but George Bromley and Elizabeth Russell, both from shoemaking families.
The current boss, Andrew Bromley represents the fifth generation of his family to take charge of the company.
Other well-known fans include Meghan Markle.
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