Popular fashion giant could be next to take over major shoe chain

The fashion giant is among parties in talks with advisers to the shoe chain

Fashion giant, Next, could be the next brand to take over a major shoe chain as the company partakes in talks with business’ advisers for the shoe firm.

The clothing and home shop is currently one of an unknown number of other suitors eyeing up a potential investment in Russell & Bromley, the 145-year-old shoe chain, according to Sky News’ sources.

Russell & Bromley confirmed some time ago that it had brought in Interpath to look into options for raising new financing for the business.

The publication also said it is not yet clear whether any deal between Next and Russell & Bromley would involve the latter’s brand being nabbed outright or whether bosses would instead opt to make an investment.

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According to the outlet, Next declined to comment on the matter, while neither Russell & Bromley nor Interpath could be reached for comment.

In a statement in October, Mr Bromley said: “We are currently exploring opportunities to help take Russell & Bromley into the next phase of our ‘Re Boot’ vision.

“Since the announcement of the ‘Re Boot’ earlier this year we have made significant progress, positioning us well to build on our momentum and continue along our journey.

“We are looking forward to working with our advisory team to secure the necessary investment to accelerate our expansion plans.”

At the moment, Russell & Bromley trades from 37 stores and has more than 450 employees. The brand was first launched in 1880 when the shoe shop opened for the first time in Eastbourne.

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Russell & Bromley is now operated by Andrew Bromley, who is the fifth generation of Bromley to run the firm.

If Next successfully acquires the brand, or invests in it, it would be one of the latest in a set of businesses that have been taken over by the fashion giant.

In recent times, Next has purchased companies such as Cath Kidston, Joules and Seraphine, as well as clothing brand, FatFace.