Russell & Bromley faces high street exit as Next takeover puts 450 jobs at risk

"Russell & Bromley, the 150-year-old luxury footwear and accessories brand, could vanish from the UK high street after a proposed takeover by Next that is expected to lead to the closure of all 37 of its stores. Around 450 jobs are understood to be at risk under a deal that would see Next acquire only the Russell & Bromley brand and intellectual property, while the retailer's physical estate is wound down."

"Modella Capital, via Retail Realisation, has emerged as a prominent force behind recent retail rescues and collapses. Last year, it acquired WHSmith's 480 high street stores in a £76 million deal, rebranding the chain as TGJones while being prevented from closing large numbers of shops under the terms of the sale. The group has also invested in Paperchase and Tie Rack, bought arts and crafts retailer Hobbycraft in 2024, and acquired The Original Factory Shop and accessories chain Claire's."

Russell & Bromley, founded in 1880, is a 150-year-old luxury footwear and accessories brand facing potential disappearance from the UK high street after a proposed takeover by Next. Next would acquire only the brand and intellectual property while winding down the retailer's physical estate, which is expected to close all 37 stores and put about 450 jobs at risk. Next is working with stock clearance specialist Retail Realisation to oversee store closures and a fire-sale of remaining inventory. Retail Realisation is linked to Modella Capital, which has led several recent high-street restructurings and acquisitions, some of which have entered administration amid weak demand and rising costs.

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