The future of a long-established Harrogate retailer has been thrown into doubt after a national rescue deal left dozens of stores facing uncertainty.
Luxury footwear business Russell & Bromley has been bought out of administration by high street giant Next, which has paid £2.5m to acquire the brand and its intellectual property.
While all Russell & Bromley stores and concessions, including the Harrogate shop on James Street, continue to trade for now, Next has confirmed it will only take ownership of three standalone locations nationwide.
Those stores are in Chelsea, Mayfair and the Bluewater Shopping Centre, leaving the remaining 33 shops and nine concessions outside the deal.
Russell & Bromley currently operates 36 stores and nine concessions across the UK and Ireland and employs around 440 people.
The James Street branch is among those whose long-term future has not yet been decided.
Andrew Bromley, chief executive of Russell & Bromley, said:
“Following a strategic review with external advisers, we have taken the difficult decision to sell the Russell & Bromley brand.
“This is the best route to secure the future for the brand, and we would like to thank our staff, suppliers, partners and customers for their support throughout our history.”
As part of the transaction, Next has also purchased a selection of Russell & Bromley stock, meaning shoppers may begin to see some of the brand’s footwear appearing in Next stores.
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