Russell & Bromley's unsecured creditors are reportedly owed £37.5million, according to a progress report prepared by administrators, Interpath. The popular British shoe chain has plunged into administration.
Store closures and new ownership
The chain has closed all its stores except three flagship branches which are under new ownership. The brand was acquired by Next in January 2026.
The business appointed administrators on January 21. The report details the period between this date and July 20.
Creditor claims and expected dividends
The report says: "Based on current estimates, we anticipate that unsecured creditors may receive a dividend." The dividend amount has yet to be confirmed. It is dependent on the "realisation of assets and payment of associated assets".
Ordinary preferential creditor claims are around £134,000. The claim from secondary preferential creditor HMRC adds up to £2.8million. Both creditors are expected to be "paid in full" when it is "reasonably practicable".
The only secure creditor, NatWest bank, reportedly has no outstanding money owed.
