HomeUKHigh street giant back from the dead after crashing into administration

High street giant back from the dead after crashing into administration

The luxury shoe retailer fell into administration earlier in 2026, before being acquired by Next as part of a £2.5million rescue deal in January 2026. Some 33 stores were forced to close, and the retail giant retained three shops in the south of England as part of the deal. Clare Martin, centre director at Westgate Oxford, described the return as “brilliant news” for the centre.

She said: “The return of Russell & Bromley is brilliant news, and we’re delighted that Westgate Oxford has been chosen as one of the first locations for reopening.

“Russell & Bromley has always been a popular brand among our guests and it’s a great part of our retail mix. We look forward to seeing the store reopen later this year,” reports Oxford Mail.

In the rescue deal, Next took on the Russell and Bromley locations in Chelsea and Mayfair in London, and the Bluewater Shopping Centre in Kent.

The retailer also confirmed it would pay £1.3million for some Russell and Bromley stock, meaning customers could see the brand sold in Next stores.

The company was put up for sale to “secure the future for the brand” after struggling with rising costs and a challenging retail market.

The iconic British shoe shop began trading in 1880, founded by the married shoemaking heirs, Elizabeth Russell and George Bromley.

The retailer was last profitable in 2019 and has struggled with lower demand and rising costs since the pandemic. Its turnover fell 7% to £62.9million in 2023, when losses increased to £1.4 million.

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