London, Jan 21, 2026, 11:42 GMT
- Next is paying £2.5 million for Russell & Bromley’s brand and IP, plus £1.3 million for some stock
- Three stores transfer to Next; 33 stores and nine concessions remain in administration
- Administrators expect court approval later Wednesday; clearance firm Retail Realisation is involved in the stock sell-down
British retailer Next said on Wednesday it has bought Russell & Bromley through an insolvency process, paying £2.5 million for the brand and a further £1.3 million for some of its stock. The deal covers the brand’s intellectual property and three stores, while 33 stores and nine concessions — shop-in-shop spaces inside other retailers — are not included. (Reuters)
It is a familiar kind of rescue now: the name and a few prime sites get saved, the rest gets pushed into a decision window. For staff and suppliers, that window can feel like the whole story.
For Next, it is another small cheque for a big label, at a time when weaker fashion chains keep sliding into formal insolvency. It can keep selling a brand without dragging every lease along with it.
Interpath, which is overseeing the process, said the sale is being carried out as a pre-pack insolvency — a deal agreed before administrators formally take over — and it expects court approval later on Wednesday. It said the stores and concessions left out will stay open and trade while options are assessed, and named Will Wright and Chris Pole as the joint administrators. Wright said the transaction “will preserve the brand”. (Interpath)
Russell & Bromley chief executive Andrew Bromley said the company had taken a “difficult decision” to sell, calling it “the best route” to secure the future of the brand. (City AM)
Sky News reported on Tuesday that Next had partnered with stock clearance specialist Retail Realisation for the bid and that rival interest included groups behind fashion brands Bench and Weird Fish. Retail Realisation is affiliated with high street investor Modella Capital, Sky News said. (Sky News)
Next shares were down about 0.3% in London morning trade. The administrator has appointed Retail Realisation to manage the sale of remaining stock from outlets excluded from the deal, according to a separate report. (London South East)
Next has built a reputation for picking up troubled labels and running them through its platform, with recent purchases including Cath Kidston, Joules, FatFace, Made and Seraphine, and UK partnerships with brands such as Gap and Victoria’s Secret, FashionNetwork reported. It said Next has not set out detailed plans for what happens to the wider Russell & Bromley store estate. (FashionNetwork)
Stores outside the transaction include sites in Ireland such as Grafton Street in Dublin and an outlet at Kildare Village, as well as concessions at Arnotts in Dublin and Brown Thomas in Cork, the Irish Examiner reported. A Belfast store is also omitted, it said. (Irish Examiner)
But the shape of Russell & Bromley on the high street is still unsettled. If administrators fail to find a buyer or a deal for the remaining shops, closures and job cuts could follow quickly — leaving Next with a brand that lives mostly online.
