Troubled footwear firm Russell & Bromley's Irish stores not included in Next rescue deal

Next is paying £2.5m for the brand, intellectual property, and three Russell & Bromley stores in the UK

Workers at footwear group Russell & Bromley in Ireland face an uncertain future after fashion retailer Next said on Wednesday it has purchased the footwear brand through an insolvency process but the Irish stores are among those not included in the sale. Picture: Mike Egerton/PA

Workers at footwear group Russell & Bromley in Ireland face an uncertain future after fashion retailer Next said on Wednesday it has purchased the brand through an insolvency process but the Irish stores are among those not included in the sale.

Next is paying £2.5m (€2.86m) for the brand, intellectual property, and three Russell & Bromley stores - two in London on Oxford Street and King's Road and one at a shopping centre in Kent. 

But 33 stores and nine concessions are not included as part of the transaction. Russell & Bromley's Irish stores include Grafton Street in Dublin, an outlet at Kildare Village, and concessions at Arnotts in Dublin and Brown Thomas in Cork. A store in Belfast is also omitted from the Next sale.

A statement from advisory firm Interpath said the Irish stores "will continue to trade in administration". 

“Across its 147-year history, Russell & Bromley has been at the forefront of contemporary style. We’re pleased therefore to have concluded this transaction, which will preserve the brand and the commitment to quality craftmanship that it has become so well known for. Our intention is to continue to trade the remaining portfolio of stores for as long as we can, while we explore the options available," said Interpath UK chief executive Will Wright.

Next said it is paying a further £1.3m (€1.49m) for some of Russell & Bromley's stock. The 147-year old firm sells men’s and women’s footwear, as well as bags and accessories. It employs about 440 people in Ireland and the UK.

"For the 33 stores not included in this transaction, the administrator has appointed Retail Realisation to manage the sale of the remaining stock," a statement from Next said.