All remaining stores closed and 400 jobs lost in £59m high street administration

All remaining stores closed and 400 jobs lost in £59m high street administration reports that footwear and handbag retailer Russell & Bromley has shut all remaining outlets after entering administration. Administrators said every store not transferred to Next closed, including two in Scotland, with 400 staff made redundant. The firm collapsed earlier this year after 146 years in business, owing more than £59 million. Russell & Bromley, founded in 1880 in Sussex, faced pressure from falling sales and higher operating costs, and had specialised in premium leather footwear and handbags. Next acquired the Russell & Bromley brand and some assets in a pre-pack deal, including three of its 36 stores. Interpath Advisory said that joint administrators Will Wright and Chris Pole reported total owed of £59.3m in January, while a later statement estimated total deficiency at £35.7m.