Next puts best foot forward in pursuit of Russell & Bromley  | Money News

Next has teamed up with a stock clearance specialist as it pursues a takeover of the family-owned shoe retailer Russell & Bromley.

Sky News has learnt that the FTSE-100 retailer is working with Retail Realisation, which badges itself as a specialist retail advisory firm, on its interest in the 145-year-old chain.

Industry sources said the alliance between them underlined Next’s interest in Russell & Bromley’s brand rather than its store estate or stock.

Next’s proposal is one of a number thought to be under consideration by Interpath, which is advising Russell & Bromley on the process.

The retail giant is also pursuing a potential deal for LK Bennett, the fashion brand which filed a notice of intention to appoint administrators last week.

Russell & Bromley trades from 37 stores and employs more than 450 people.

It was formed in 1880 when the first Russell & Bromley store opened in Eastbourne.

Seven years earlier, George Bromley and Elizabeth Russell, both of whom hailed from shoemaking families, were married, paving the way for the establishment of the business.

Russell & Bromley is now run by Andrew Bromley, the fifth generation of his family to hold the reins.

Billie Piper, the actress and singer, is the current face of the brand as it tries to appeal to younger consumers as part of a five-year turnaround plan.

In recent years, Next has bought brands such as Cath Kidston, Joules and Seraphine, the maternitywear retailer for knockdown prices.

Next also owns Made.com, the online furniture retailer, and FatFace, the high street fashion brand.

Under Lord Wolfson, its veteran chief executive, Next has defied the wider high street gloom to become one of the UK’s best-run businesses.

This week, it upgraded its full-year profit forecast after a successful Christmas trading period.

Next did not respond to a request for comment, while Retail Realisation declined to comment.