Chester and Cheshire Oaks footwear stores could shut despite Next rescue deal
The future of the stores remains uncertain
Russell & Bromley on Eastgate Street, Chester(Image: Google Street View)
Next has snapped up luxury footwear business Russell & Bromley from administration in a rescue deal, but the future of most of the brand’s stores - including sites in Chester and at Cheshire Oaks - remains uncertain. Administrators confirmed that Next has bought the brand and certain other assets in a pre-pack insolvency deal.
Russell & Bromley currently runs 36 stores and nine concessions across the UK and Ireland, employing around 440 people. However, Next said it will only retain three of its shops – in Chelsea, Mayfair and the Bluewater Shopping Centre – as part of the deal.
Administrators at Interpath have said they still exploring options for the remaining stores and concessions, which are continuing to trade. Next said it will pay £2.5 million for the brand and intellectual property, and £1.3 million for a portion of its current stock.
In a statement, Next said: “This acquisition secures the future of a much-loved British footwear brand. Next intends to build on this legacy and provide the operational stability and expertise to support Russell & Bromley’s next chapter, allowing it to return to its core mission: the design and curation of world-class, premium footwear and accessories for many years to come.”
Andrew Bromley, chief executive of Russell & Bromley, 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.”
Administrators have said they are assessing options for the remaining shops.
The following shops, which will continue to trade, were not included in the deal and are at risk:
- Bath, Somerset
- Belfast, Northern Ireland
- Birmingham, West Midlands
- Brent Cross, Greater London
- Brighton, East Sussex
- Brompton, Greater London
- Cambridge, Cambridgeshire
- Canary Wharf, Greater London
- Cheltenham, Gloucestershire
- Chester, Cheshire
- Covent Garden, Greater London
- Edinburgh, City of Edinburgh
- Exeter, Devon
- Glasgow, Glasgow City
- Guildford, Surrey
- Hampstead, Greater London
- Harrogate, North Yorkshire
- Jermyn Street, Greater London
- Leeds, West Yorkshire
- Manchester, Greater Manchester
- Oxford, Oxfordshire
- Paddington, Greater London
- Regent Street, Greater London
- Richmond, Greater London
- Stratford, Greater London
- Westfield White City, Greater London
- Winchester, Hampshire
Outlet Stores
- Ashford, Kent
- Cheshire Oaks, Cheshire
- Gunwharf Quays Portsmouth, Hampshire
- Swindon, Wiltshire
UK concessions
- Fenwicks Canterbury, Kent
- Fenwicks Newcastle, Tyne and Wear
- Fenwicks Kingston, Greater London
- Fenwicks Colchester, Essex
- Fenwicks Bracknell, Berkshire
- Fenwicks Tunbridge Wells, Kent
- Fenwicks York, North Yorkshire
Republic of Ireland stores and concessions
- Dublin Grafton Street, County Dublin
- Kildare, County Kildare
- Arnotts concession, Dublin, County Dublin
- Brown Thomas concession, Cork, County Cork