Back to today’s briefing

Story perspectives

Next Acquires Russell & Bromley Amid Retail Struggles

1/21/2026

32 5 Full Breakdown

Summary

Story summary

Next has acquired Russell & Bromley for £3.8 million, including £1.3 million in stock.
Next will retain three of its 36 stores.
The deal leaves 33 stores outside the agreement, risking around 400 jobs.
Andrew Bromley, CEO of Russell & Bromley, emphasized that the sale is essential for the brand's future.
Claire's and JD Sports are among UK retailers facing challenges with declining sales in a tough economic climate.

History

Historical Context

The UK retail sector faced severe challenges during the 2008 economic downturn, leading to the collapse of major retailers like Woolworths, which had over 800 stores. In January 2026, Next acquired Russell & Bromley for £2.5 million, reflecting a trend of consolidation as companies adapt to declining sales and market pressures, resulting in the closure of 33 stores and potential job losses.

1 of 2

Story summary

Next has acquired Russell & Bromley for £3.8 million, including £1.3 million in stock.
Next will retain three of its 36 stores.
The deal leaves 33 stores outside the agreement, risking around 400 jobs.
Andrew Bromley, CEO of Russell & Bromley, emphasized that the sale is essential for the brand's future.
Claire's and JD Sports are among UK retailers facing challenges with declining sales in a tough economic climate.

1 / 2