Next acquires Russell & Bromley in pre-pack administration deal

Next has purchased shoe retailer Russell & Bromley in a pre-pack administration deal, reportedly leading to the closure of 33 stores and nine concessions. 
The acquisition, which is subject to court approval of administrators later today (21 January), includes the brand and intellectual property of Russell & Bromley for £2.5m in cash, according to Next.
Additionally, £1.3m is being paid for a portion of the current Russell & Bromley stock.Related Story Fenwick and Se