A cherished British retail institution, the premium footwear chain Russell & Bromley, is reportedly on the verge of disappearing from the nation's high streets after an impressive 150-year history. The potential move follows a significant financial loss and a challenging retail climate, with a major acquisition deal now threatening the brand's future.
The Takeover Deal That Could End an Era
According to reports from The Telegraph, retail giant Next is expected to acquire the intellectual property of Russell & Bromley. This move is part of a joint takeover with a company named Retail Realisation, which specialises in liquidations and is linked to Modella Capital. Modella Capital is the owner of the former WH Smith high street chain.
If the deal proceeds as reported, Next would secure both the brand and its intellectual property. This critical development would make it extremely complex for Russell & Bromley to continue trading under its famous name, as highlighted by further reports in The Express. The subsequent phase of the plan would see Retail Realisation manage the closure of the chain's remaining 37 stores and oversee a fire sale of existing stock.
Jobs at Risk and a Failed Recovery Plan
The human cost of this corporate manoeuvre is substantial. It is estimated that around 450 jobs are now at risk across the UK. This potential closure marks a sad turn for a business that had recently launched a five-year recovery strategy, aptly named 'Re-Boot'. This plan was unveiled after the company suffered a staggering £9 million loss in 2024 and included ambitions to expand into new markets like the Middle East.
Russell & Bromley is currently owned by fifth-generation family member Andrew Bromley. The business was originally founded in 1880 in Sussex and has introduced many iconic styles to British shoppers over the decades. One of its most famous creations is the timeless Chester loafer, recognised for its distinctive fringing and tassel details.
A Royal Favourite and Cultural Staple
The brand has long held a place in the heart of British culture and fashion. It counts Kate Middleton, the Duchess of Cambridge, among its most notable admirers; she has frequently been photographed wearing shoes from various Russell & Bromley collections. In a move to modernise its image, the company announced in 2025 that Doctor Who star Billie Piper would become its first-ever celebrity campaign face.
The reported acquirer, Modella Capital, is no stranger to stepping in when retailers struggle. In 2025, the company took over Claire's Accessories, WH Smith, and The Original Factory Shop (TOFS). It also currently owns the arts and crafts retailer Hobbycraft. This latest potential acquisition underscores the ongoing and profound transformation of the UK's high street, where even the most historic and beloved names are not immune to the pressures of changing consumer habits and corporate consolidation.
