Overview
- Multiple outlets report a developing plan in which Next would acquire Russell & Bromley’s brand and intellectual property, leaving the stores outside the deal.
- Retail Realisation, linked to Modella Capital, is said to be on standby to close the retailer’s remaining 37 shops and dispose of stock in a fire sale.
- The parties involved, including Next, Retail Realisation and adviser Interpath, have not confirmed final terms or commented publicly on the reports.
- Russell & Bromley, founded in 1880 and run by fifth-generation family member Andrew Bromley, posted an operating loss of about £9 million and launched a five-year ‘Re Boot’ turnaround plan.
- Next’s interest comes after stronger festive trading and a track record of buying distressed brands, while Modella-linked entities have recently been active across high-street restructurings.