Russell & Bromley is returning to the high street just months after falling into administration, as owner Next begins rebuilding the 147-year-old footwear brand. The brand will open a store at Westgate Oxford on 3 September, marking the beginning of its physical retail comeback following the closure of its former store estate.
Westgate Oxford centre director Clare Martin said the shopping destination was “delighted” to have been selected as one of the first locations for the brand’s reopening, indicating further stores could follow.
Russell & Bromley’s History
The brand, which traces its roots back to 1879, is the latest distressed brand to be brought into Next‘s growing stable of fashion businesses. Next has become an increasingly prominent buyer of struggling or collapsed brands in recent years, adding names including Joules, Made.com, and Cath Kidston to its portfolio as it uses its ecommerce, logistics, and sourcing infrastructure to revive them.
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Russell & Bromley had been battling falling footfall, rising operating costs, and difficult trading conditions before its collapse. The business owed around £59.3m when administrators were appointed and had racked up roughly £20m in losses over the previous two years.
Next’s Acquisition
Next snapped up Russell & Bromley through an insolvency process in January, paying £2.5m for the brand and intellectual property and a further £1.3m for stock. At the time of the deal, Russell & Bromley operated 36 stores and nine concessions across the UK and Ireland and employed around 440 people.
Next initially acquired three of its stores alongside the brand, on Oxford Street and King’s Road in London and at Bluewater Shopping Centre, while the remaining 33 stores and nine concessions were left with administrators Interpath as it assessed their future.
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Those remaining locations subsequently closed, with the final store in Edinburgh shutting its doors in July.
Future Plans
Russell & Bromley is now listed by Next among the brands it owns outright. The brand’s return to the high street is a significant step in its rebuilding process, and it will be interesting to see how it performs in the coming months. As Next continues to expand its portfolio of fashion brands, it is likely that Russell & Bromley will play a key role in its future plans.
