Russell & Bromley is closing three more stores, including its flagship Covent Garden location, as the iconic British shoe brand undergoes a major restructuring.
Store Closures
The Bath and Harrogate stores are expected to shut their doors later today (April 23), while the 3,460 sq ft Covent Garden flagship closed yesterday. These closures follow the earlier shutdown of 10 other locations: Exeter, Hampstead, Winchester, Stratford, Birmingham, Jermyn Street, Canary Wharf, Swindon, Ashford, and Cheshire Oaks.
Strategic Review and Sale
Andrew Bromley, chief executive of the family-owned business, 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.”
Will Wright, UK chief executive of Interpath, which is acting as administrator, confirmed that 33 stores and nine concessions not included in the deal will remain open for now. He stated: “Across its 147-year history, Russell & Bromley has been at the forefront of contemporary style. We’re pleased therefore to have concluded this transaction, which will preserve the brand and the commitment to quality craftsmanship that it has become so well known for. Our intention is to continue to trade the remaining portfolio of stores for as long as we can while we explore the options available.”
Future Risks
The brand's remaining 19 stores and concessions are still at risk of closure, depending on the outcome of the ongoing assessment.
