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Next teams up with Retail Realisation to buy Russell & Bromley - report
(Sharecast News) - Next has reportedly teamed up with stock clearance specialist Retail Realisation as it pursues a takeover of family-owned shoe retailer Russell & Bromley. Sky News on Friday cited sources as saying that 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, Sky said.
Next 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.
At 1410 GMT, Next shares were up 0.8% at 14,385p.
Earlier this week, the high street retailer lifted full-year guidance on the back of better-than-expected festive trading.
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