Next said to be among suitors for Russell & Bromley takeover

British retailer Next is reportedly among a string of suitors eyeing an acquisition of Russell & Bromley.

The family-owned footwear business announced in October that it was seeking external financing as part of the next phase of its ReBoot turnaround plan.

Next is said to be among the interested parties, according to sources for Sky News, with the identity of other suitors currently unclear.

FashionUnited has contacted Russell & Bromley with a request to comment. Next declined to comment.

Russell & Bromley, which operates 37 stores across the UK, appointed advisory firm Interpath to explore options to raise new financing for the business.

The company is currently being run by Andrew Bromley, a fifth generation descendant of George Bromley and Elizabeth Russell, who founded the business in 1880.

Speaking on the plans, Bromley had said in a statement issued in October: “Since the announcement of the ‘ReBoot’ earlier this year, we have made significant progress, positioning us well to build on our momentum and continue along our journey.

“We are looking forward to working with our advisory team to secure the necessary investment to accelerate our expansion plans.”