Next plc has agreed a £3.8 million deal to buy Russell & Bromley out of administration, securing the future of the brand but putting around 400 jobs at risk at 33 stores not included in the sale. 

The footwear retailer, founded in 1879, operates 36 shops and nine concessions, but the Leicester-based retail giant is understood to be taking on just three stores and around 48 staff. 

Next said in a statement: “This acquisition secures the future of a much-loved British footwear brand. 

“Next intends to build on this legacy and provide the operational stability and expertise to support Russell & Bromley’s next chapter, allowing it to return to its core mission, the design and curation of world-class, premium footwear and accessories, for many years to come.” 

The move comes after the FTSE 100 firm raised guidance for profit before tax for the year ending January 2026 by £15m to £1.15 billion, representing 13.7% year-on-year growth, following a strong Christmas performance that saw full-price sales rise 10.6%.