Iconic Manchester City Store Faces Potential Closure
The Russell & Bromley store located in Manchester city centre faces potential closure following a recent acquisition by Next. This move comes after Russell & Bromley, a well-known footwear and handbag retailer, fell into administration.
Details of the Acquisition
Next has successfully acquired the brand after a significant deal worth £2.5 million. Additionally, £1.3 million will be allocated for a portion of the existing stock. This acquisition primarily aims to preserve the legacy of Russell & Bromley.
Impacts on Manchester Store and Jobs
Currently, Russell & Bromley operates 36 stores and nine concessions across the UK and Ireland. However, only three locations—Chelsea, Mayfair, and Bluewater—will be retained under Next. The fate of the Manchester outlet at St Anns House is now uncertain, jeopardizing hundreds of jobs.
Statements from Company Executives
- Andrew Bromley, CEO of Russell & Bromley: “We have taken the difficult decision to sell the brand to secure its future.”
- Will Wright, UK Chief Executive at Interpath: “We aim to continue trading the remaining portfolio while exploring available options.”
Historical Background
Founded in 1879 in Sussex, Russell & Bromley has a rich 147-year history in the world of contemporary style. The brand is renowned for its commitment to quality craftsmanship in footwear and accessories.
Next’s Commitment to the Brand
In a statement regarding the acquisition, Next expressed its intent to restore operational stability and support Russell & Bromley. The company aims to continue its mission of designing premium footwear and accessories, ensuring the brand’s longevity.
As administrators from Interpath continue to evaluate options for the other stores, the situation remains fluid. The outcome of this acquisition will determine the future landscape of iconic Manchester City outlets.
