A Brighton shoe shop is at risk of closure after a chain that started in Sussex was placed into administration.
Russell and Bromley, in East Street, Brighton, is one of 33 stores under threat after a deal with the fashion chain Next.
But Next bought just three out of the 36 stores and nine concessions across Britain and Ireland, in a process overseen by insolvency experts from Interpath.
The move has left uncertainty hanging over the rest of the footwear and handbag retailer’s outlets and placed hundreds of jobs at risk.
It has been reported that Next has also bought the brand and stock in a pre-pack insolvency deal worth almost £4 million.
The administrators are understood to be considering the options for the remaining stores and concessions.
Russell and Bromley, which was founded in Sussex in 1880, employed about 440 staff before its financial collapse.
In the meantime, the shops are continuing to trade as the administrators hope that they might be bought as a going concern.
Next said: “This acquisition secures the future of a much-loved British footwear brand.
“Next intends to build on this legacy and provide the operational stability and expertise to support Russell and Bromley’s next chapter, allowing it to return to its core mission: the design and curation of world-class premium footwear and accessories for many years to come.”
Russell and Bromley chief executive Andrew Bromley said: “Following a strategic review with external advisers, we have taken the difficult decision to sell the Russell and 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.”
Interpath’s UK chief executive Will Wright said: “Our intention is to continue to trade the remaining portfolio of stores for as long as we can, while we explore the options available.”
Next said that it would pay £2.5 million for the brand and intellectual property and £1.3 million for a portion of Russell and Bromley’s current stock.
Russell and Bromley in Brighton is usually totally empty. When I have visited they never seem to have any stock
Their shoes are cheap and nasty quality.
Overpriced and outdated