News that family-owned premium footwear retailer Russell & Bromley could be sold with its stores likely to close hasn’t only dismayed the industry at large. Apparently, some members of the founding family are also concerned about the potential plan.
Billie Piper for Russell & Bromley
The Times reported that some family members favour a sale to Next and its partner in the deal Retail Realisation that would see the former owning the brand and the latter selling off the stock and other assets.
But others are believed to be “pushing for a deal with a private equity company that has pledged to preserve the retailer’s stores and jobs”.
Some Bromley family members want the business to be sold to Auralis, a new group that says it will preserve most of the firm’s 450 jobs, 37 stores across the UK, as well as its HQ and distribution centre.
Next, meanwhile, wouldn’t need the stores as it has its own physical locations in which the brand could operate and its own major online operation. That would leave stock clearance specialist Retail Realisation to deal with the wider shutdown of the business.
So what is Auralis? It was set up in 2025 by the investment firm that also owns Weird Fish, Total Capital partners.
Led by Weird Fish CEO David Butler, The Times quoted him saying it’s looking for retailers that are “limited in their abilities to invest in their own businesses”, rather than pursuing distressed acquisitions as some serial acquirers are doing.
The newspaper also said that disagreements within the Bromley family aren’t new with some members not being confident in CEO Andrew Bromley’s turnaround strategy and favouring a sale. The CEO is believed to have preferred the business to stay independent.
Last year the company appointed Interpath Advisory to look at funding options but with no fresh capital forthcoming, a full sale is now being pursued.
The report said no deal has been struck and other private equity bidders are also still looking at the business. Nobody involved has commented.
