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Next Acquires Russell & Bromley Brand and Three Stores in Pre-Pack Deal

lite News Desk 2 min read

At a glance

  • Next purchased the Russell & Bromley brand and intellectual property
  • Three stores included: Oxford Street, King’s Road, and Bluewater
  • Deal excludes 33 stores and nine concessions, which remain open

Next has completed the acquisition of the Russell & Bromley brand, its intellectual property, and three retail locations through a pre-pack administration process.

The transaction includes stores located on Oxford Street, King’s Road in London, and at Bluewater Shopping Centre. The purchase was arranged as part of an administration procedure, with the deal requiring court approval before it is finalised.

Next paid £2.5 million for the brand and intellectual property, and an additional £1.3 million for a portion of the available stock. The acquisition does not cover all of Russell & Bromley’s retail operations, as several locations remain outside the agreement.

There are 33 other stores and nine concessions that were not included in the sale and continue to operate. Administrators are currently reviewing options for these remaining stores and concessions.

What the numbers show

  • £2.5 million paid for brand and intellectual property
  • £1.3 million paid for a portion of stock
  • Three stores acquired: Oxford Street, King’s Road, Bluewater
  • 33 stores and nine concessions not included in the deal

Retail Realisation has been appointed by the administrators to oversee stock clearance activities for the stores not acquired by Next. This process is intended to manage inventory for the locations remaining outside the acquisition.

The stores that are not part of the deal continue to trade while administrators consider future possibilities. No immediate changes have been announced for these locations as the assessment continues.

The acquisition remains subject to approval from the court. Next’s purchase of the brand and selected assets will be completed once this legal step is finalised.

Administrators are managing the ongoing operations and stock clearance for the stores not included in the sale, while the acquired stores transition under Next’s ownership pending court confirmation.

* This article is based on publicly available information at the time of writing.

Sources and further reading

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