‘Everything must go’ banners have been put in the windows
Russell and Bromley (Image: Google )
A huge luxury shoe and handbag store is closing down in Exeter as ‘closing down’ banners have appeared in the windows.
Exeter High Street’s Russell & Bromley was one of the dozens of stores at risk of closing after the retailer went into administration.
The store has been seen with huge yellow ‘everything must go’, ’20 per cent off’, and ‘store closing down’ banners in the window.
The Exeter store closure comes after Russell & Bromley was hit with falling sales and began the insolvency process where Next bought the historic Russell & Bromley name.
Russell & Bromley runs 33 stores across the UK and Ireland, employing around 440 people.
But, The MEN reports that the UK retail giant Next has said it only plans to keep three stores open and operating.
DevonLive has previously reported that the three stores which will remain open as part of Next’s deal to buy the brand are located in Chelsea, Mayfair, and Bluewater Shopping Centre.
In a statement, Next said: “This acquisition secures the future of a much-loved British footwear brand.
“Next intends to build on this legacy and provide the operational stability and expertise to support Russell & Bromley’s next chapter, allowing it to return to its core mission: the design and curation of world-class, premium footwear and accessories for many years to come.”
Andrew Bromley, chief executive of Russell & Bromley, said: “Following a strategic review with external advisers, we have taken the difficult decision to sell the Russell & Bromley brand.
“This is the best route to secure the future for the brand, and we would like to thank our staff, suppliers, partners and customers for their support throughout our history.”