Russell and Bromley, the iconic British footwear retailer, has initiated an “everything must go” clearance sale, offering discounts of up to 50% off. This follows an initial 20% reduction earlier this year, as the company struggles to navigate financial difficulties after entering administration in January.
Next acquired the business on January 21, securing ownership of three Russell and Bromley stores located in Chelsea, Mayfair, and Bluewater Shopping Centre. However, the deal did not include the retailer’s remaining 33 stores and nine concessions, which remain at risk. Affected locations include shops in Bath, Cheltenham, and Exeter, among others.
Despite these challenges, the preserved stores continue operations, while the other sites are expected to stay open until May to sell off remaining stock. Next’s acquisition saved 40 jobs, transferring those employees into its workforce. Unfortunately, approximately 320 other workers remain vulnerable to redundancy amid the ongoing restructuring.
Founded in 1880 by George Bromley and Elizabeth Russell, the brand has earned a loyal following over the decades, including high-profile patrons such as the Princess of Wales, Katie Holmes, and Billie Piper. However, persistent declines in consumer demand and rising operational costs since the pandemic have led to continued losses, with the company unprofitable since 2019.