Next buyout saves footwear chain Russell & Bromley but 400 jobs likely to be lost

Retailer buys chain from administration for £3.8m adding to brand portfolio ranging from FatFace to Made.comNext has rescued the Russell & Bromley footwear retailer out of administration for £3.8m but about 400 jobs are likely to go at 33 shops not included in the deal.The British brand, founded in 1879 in Eastbourne, East Sussex, trades from 36 stores and nine concessions across the UK and Ireland. But Next will only take on three stores – in Chelsea, Mayfair and the Bluewater Shopping Centre – and about 48 store staff, it is understood. Continue reading...