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Next PLC on Wednesday said it has acquired certain assets of British high street footwear brand Russell & Bromley Ltd from administrators for a total cash consideration of £3.8 million.
The Leicester, England-based clothing and homeware retailer said it is paying £2.5 million for Russell & Bromley’s brand and intellectual property, with a further £1.3 million for a portion of the retailer’s existing stock. The transaction is subject to court approval of the administrators later on Wednesday.
As part of the deal, three Russell & Bromley stores will transfer to Next under licence, located on Oxford Street and King’s Road in London and at Bluewater Shopping Centre in Kent.
The remaining 33 Russell & Bromley stores are not included in the transaction. The administrator has appointed Retail Realisation to manage the sale of remaining stock from those outlets.
Russell & Bromley was founded in 1880 in Eastbourne, East Sussex. Next said the acquisition secures the future of the ‘much-loved’ British brand and will allow it to refocus on ‘the design and curation of world-class, premium footwear and accessories for many years to come’.
Next added that it will provide operational stability and expertise to support the brand’s next phase of development.
The FTSE 100-listed retailer recently upgraded its full-year profit forecast for financial 2026 following a strong Christmas trading period.
Shares in Next were down 0.3% at 13,657.65 pence in London on Wednesday morning.
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