Footwear brand Next has acquired another renowned brand the Russell & Bromley in a pre-pack administration deal, highlighting the continued reshaping of the UK fashion and footwear sector as retailers prioritise brand value and digital scale over large physical store estates.
Under the transaction, Next will take ownership of the Russell & Bromley brand, associated intellectual property and the online business, while retaining only three physical stores. These locations are on Oxford Street and King’s Road in London, as well as at the Bluewater shopping centre in Kent.
A total of 33 standalone Russell & Bromley stores and nine concessions have been excluded from the deal and remain in administration, with their future dependent on discussions led by insolvency practitioners.
Founded in 1873, Russell & Bromley had built a nationwide presence across the UK and Ireland, but prolonged pressure from rising costs, subdued consumer spending and structural shifts towards online retail pushed the business into administration earlier this year.
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The structure of the acquisition mirrors a growing trend in Britain’s retail industry, where larger groups selectively acquire heritage brands without taking on extensive high street liabilities. For Next, the deal strengthens its portfolio while limiting exposure to underperforming locations.
Next plans to integrate Russell & Bromley into its established digital, logistics and fulfilment platform, using its scale to support the brand’s future growth primarily through e-commerce, complemented by a small number of flagship stores in premium retail locations.
The deal adds to Next’s role as a consolidator within the UK retail market, following a series of similar acquisitions in recent years as the sector continues to adapt to changing consumer behaviour and economic pressures.
While the transaction secures the future of the Russell & Bromley brand under new ownership, its physical footprint on the UK high street is expected to shrink significantly as consolidation across the sector accelerates.
