Next Acquires Russell & Bromley Brand for £3.8M, 440 Jobs at Risk

Next has acquired the Russell & Bromley brand, intellectual property, and three stores for £3.8 million in a pre-pack insolvency deal, triggering the closure of 33 outlets and nine concessions by January 25, 2026, putting 440 jobs at risk. The 145-year-old footwear retailer entered administration after a five-year turnaround plan, “Re Boot,” failed to stabilize operations following a £9 million operating loss in 2024. Next said the acquisition secures the legacy of the British brand while leveraging its operational expertise. Retail Realisation, a Modella Capital affiliate, will manage closures and liquidation of remaining inventory. This follows Modella’s recent acquisitions of WH Smith, TOFS, and Claire’s Accessories—brands now facing imminent collapse after weak trading. Next has also expanded its portfolio with Cath Kidston, Joules, and FatFace in recent years.