Next Acquires Russell & Bromley After Retailer Enters Administration

Next acquired the brand and selected assets of luxury footwear and accessories retailer Russell & Bromley through a pre-pack administration deal on January 21, 2026. The historic British company, founded in 1873, entered administration owing approximately £37.5 million to unsecured creditors.

Following the collapse, the retailer closed all its stores with the exception of three flagship branches, which continue to operate under the ownership of Next. A progress report from administrators Interpath indicates that while dividends for unsecured creditors are not yet confirmed, ordinary preferential creditors and HM Revenue & Customs are expected to be paid in full. HM Revenue & Customs is owed £2.8 million.

NatWest bank served as the sole secured creditor for the company and reportedly has no outstanding money owed.