A LUXURY shoe chain is set to shut its first shop after it was bought out of administration this week.
Russell & Bromley fell into administration in January but was bought by Next this week in a £2.5million deal.
The chain currently has 36 stores and nine concessions across the UK and Ireland.
But Next has said it will only retain three Russell & Bromley shops – in Chelsea, Mayfair and the Bluewater Shopping Centre – as part of the deal.
As a result, 33 shops and nine concessions are at risk of closure, leaving hundreds of jobs at risk.
Administrators have said they are still exploring options for other shops, which will continue to trade.
Read more on store closures
But ‘everything must go’ signs have been spotted in the window of the Russell & Bromley shop on Exeter High Street, according to Devon Live.
Shoppers can get up to 20% off some items in the closing down sale.
But it is not yet clear when the store will shut its doors for good.
The acquisition by Next comes after the retailer was hit with weaker demand and rising costs.
The company was last profitable in 2019 and has since seen revenue fall and losses widen.
Turnover fell by 7% to £62.9million in 2023, while losses widened to £1.4million.
The acquisition by Next was approved by administrators on Wednesday.
It includes the brand and intellectual property of Russell & Bromley, while Next has paid £1.3million for a proportion of the company’s current stock.
Russell & Bromley locations at risk of closure
- Bath, Somerset
- Belfast, County Antrim
- Birmingham, West Midlands
- Brent Cross, Greater London
- Brighton, East Sussex
- Brompton, Greater London
- Cambridge, Cambridgeshire
- Canary Wharf, Greater London
- Cheltenham, Gloucestershire
- Chester, Cheshire
- Covent Garden, Greater London
- Dublin Grafton Street, County Dublin
- Edinburgh, City of Edinburgh
- Exeter, Devon
- Glasgow, Glasgow City
- Guildford, Surrey
- Hampstead, Greater London
- Harrogate, North Yorkshire
- Jermyn Street, Greater London
- Kildare, County Kildare
- Leeds, West Yorkshire
- Manchester, Greater Manchester
- Oxford, Oxfordshire
- Paddington, Greater London
- Regent Street, Greater London
- Richmond, Greater London
- Stratford, Greater London
- Westfield White City, Greater London
- Winchester, Hampshire
Outlet stores:
- Ashford, Kent
- Cheshire Oaks, Cheshire
- Gunwharf Quays Portsmouth, Hampshire
- Swindon, Wiltshire
Concessions:
- Arnotts concession, Dublin, County Dublin
- Brown Thomas concession, Cork, County Cork
- Fenwicks Canterbury, Kent
- Fenwicks Newcastle, Tyne and Wear
- Fenwicks Kingston, Greater London
- Fenwicks Colchester, Essex
- Fenwicks Bracknell, Berkshire
- Fenwicks Tunbridge Wells, Kent
- Fenwicks York, North Yorkshire
