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21
Jan
Future of Harrogate shop in doubt as long-established brand is snapped up by Next
High-street giant Next is to acquire the brand and intellectual property of footwear retailer Russell & Bromley, business advisory and insolvency firm Interpath has confirmed.
The pre-pack deal will secure the future of the family-owned firm, but could see the demise of most of its stores, including the one on James Street in Harrogate.
Next is acquiring three Russell & Bromley branches, in Chelsea, Mayfair and the Bluewater Shopping Centre, but the other 33 stores and all nine concessions are not included in the transaction.
These stores, Harrogate's included, will remain open and continue to trade while the joint administrators continue to assess options for them.
The development comes after a sharp drop in sales at Russell & Bromley, which was founded in Sussex in 1879. Accounts filed in 2023, the latest available, show that pre-tax losses deepened from £4 million in 2022 to £7.9 million in 2023, due to what the company described as “a challenging consumer environment”.
Andrew Bromley, CEO 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.
Russell & Bromley on James Street in Harrogate.
The Next deal only relates to Russell & Bromley's brand, intellectual property and three of its stores, but last week, we reported that Interpath is considering the sale of the rest of the company – its stock and stores – to liquidation specialist Retail Realisation.
If that happened, the Harrogate shop would cease to trade as Russell & Bromley and a new tenant would be found.
Next said the 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".
In contrast to Russell & Bromley’s troubled financial situation, Next’s performance appears to go from strength to strength. It reported strong financial results for the second half of 2025, with significant increases in both sales and profits.
In a trading statement issued on January 6, Next reported better-than-expected Christmas sales and estimated full-year profits at £1.15 billion, up 13.7% on the previous year.
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