High Street Giant Secures Heritage Footwear Brand in £3.8m Deal
Next has completed a £2.5 million acquisition of Russell Bromley's brand and intellectual property through a pre-pack administration deal approved by the High Court on 21 January 2026. The retail giant will pay an additional £1.3 million for a portion of the 147-year-old footwear specialist's existing stock, bringing the total transaction value to £3.8 million. The deal, facilitated by joint administrators Will Wright and Chris Pole of Interpath, marks Next's latest strategic move to expand its portfolio of premium British brands.
Only three Russell Bromley stores will transfer to Next as part of the transaction: the Chelsea and Mayfair locations in London, plus the Bluewater Shopping Centre outlet in Kent. These prime retail destinations represent the most valuable physical assets of the business, whilst the remaining 33 standalone stores and nine concessions have been excluded from the deal. Next stated the acquisition "secures the future of a much-loved British footwear brand" and pledged to provide operational stability to support the retailer's return to its core mission of designing world-class premium footwear and accessories.
Uncertain Future for 440 Employees as Store Closures Loom
The fate of approximately 440 Russell Bromley employees hangs in the balance as administrators continue to assess options for the 33 stores and nine concessions not included in Next's acquisition. Interpath has appointed stock clearance specialist Retail Realisation to manage the sale of remaining inventory whilst the excluded locations continue trading. Will Wright, Interpath's UK chief executive, confirmed the intention to keep the remaining portfolio operational "for as long as we can" whilst exploring available options, though the outlook appears bleak for most sites.
Russell Bromley chief executive Andrew Bromley, a fifth-generation descendant of the founders, acknowledged the difficult decision to sell the brand following a strategic review with external advisers. The family-run business, established in 1879 in Sussex by George Bromley and Elizabeth Russell, had been implementing a five-year turnaround strategy known as 'ReBoot' since earlier in 2025. Despite efforts to modernise its positioning and appeal to younger customers—including appointing its first Creative Director and actress Billie Piper as brand ambassador—the retailer ultimately required external financing to survive. Bromley thanked staff, suppliers, partners and customers for their support throughout the company's history, stating the sale represented "the best route to secure the future for the brand".
Next Continues Aggressive Acquisition Strategy Amid Retail Turmoil
The Russell Bromley deal represents Next's latest addition to a rapidly expanding retail empire built largely through opportunistic acquisitions of distressed brands. Since 2019, the high street giant has snapped up numerous struggling retailers including Joules (£34 million in 2022), Cath Kidston (£8.5 million in 2023), FatFace (£115.2 million in 2023), and most recently Seraphine (£600,000 in July 2025). Next has also secured significant stakes in Reiss (72%), Gap UK (51%), Victoria's Secret UK (51%), and JoJo Maman Bébé (44%), transforming itself from a traditional retailer into a multi-brand lifestyle empire.
This acquisition strategy focuses on securing brand names and intellectual property rather than physical store estates, allowing Next to integrate rescued brands into its Total Platform infrastructure. The platform combines e-commerce, logistics, and physical retail capabilities, enabling acquired brands to benefit from Next's operational expertise whilst maintaining creative independence. Reports suggest Next is also eyeing LK Bennett, which filed for administration in December 2025, in a similar brand-focused deal. The strategy has proven financially successful, with Next reporting better-than-expected festive sales and increasing its full-year profit guidance to £1.15 billion.
Pre-Pack Administrations Reshape British Retail Landscape
The Russell Bromley transaction follows a familiar pattern of pre-pack administration deals that have reshaped the British high street in recent years. This insolvency process allows administrators to negotiate sales before formal administration, enabling quick deals that preserve brand value but often result in significant store closures and job losses. The Original Factory Shop and accessories retailer Claire's are currently undergoing similar processes, whilst Bodycare's collapse in September 2024 resulted in approximately 1,000 redundancies.
Russell Bromley's difficulties reflect broader challenges facing premium footwear retailers in an increasingly competitive market. The company had been loss-making in recent years despite its 147-year heritage and reputation for quality craftsmanship. Rising costs, changing consumer behaviour, and the dominance of online shopping have created a perfect storm for mid-market retailers lacking the scale or digital capabilities to compete effectively. The pre-pack process, whilst controversial, has become a standard mechanism for extracting value from failing retailers, typically benefiting larger operators like Next who possess the infrastructure and capital to cherry-pick the most valuable assets.
Brand Revival Plans Focus on Premium Positioning and Digital Integration
Next has outlined plans to refocus Russell Bromley on its core strengths: designing and curating world-class premium footwear and accessories. The retailer intends to leverage its Total Platform infrastructure to revitalise the brand's digital presence whilst maintaining the quality craftsmanship and contemporary style that defined Russell Bromley's 147-year legacy. By integrating the brand into Next's ecosystem, the acquired business will gain access to enhanced delivery services, expanded click-and-collect networks, and sophisticated e-commerce capabilities that standalone operators struggle to match.
The three retained stores in Chelsea, Mayfair and Bluewater represent premium locations that align with Russell Bromley's upmarket positioning. Next's track record with previous acquisitions suggests the brand may eventually appear as concessions within Next's expanding department store-format locations, which already stock premium beauty and homeware alongside clothing. This strategy has proven successful with FatFace, where Next unveiled its first concession in its new Lakeside store in Essex. Whether Russell Bromley can recapture its former glory under Next's ownership remains uncertain, but the alternative—complete disappearance from the British retail landscape—has been avoided, at least for the brand name itself.