Next Plc Pursues Troubled British Footwear Brands Russell & Bromley and LK Bennett

Core Insights - Next plc is positioned as a leading candidate to acquire struggling British footwear brands Russell & Bromley and LK Bennett amid a challenging retail environment Group 1: Next plc - Next plc reported over 6 billion pounds in revenue last year and is actively seeking investment opportunities, including acquisitions and partnerships [1] - The company is collaborating with Retail Realisation, a stock clearance specialist, and is competing with private equity firms for the acquisition of the brands [6] Group 2: Russell & Bromley - Russell & Bromley, established in 1873, has been unable to secure sufficient funding for its five-year turnaround plan, leading to financial difficulties [2] - The brand's revenue for the year ending December 31, 2024, decreased by 9 percent to 56.5 million pounds, with operating losses expanding to 9 million pounds [5] - The company has been implementing a transformation plan, including relocating its head office and enhancing its technology and brand focus [4] Group 3: LK Bennett - LK Bennett, founded in 1990, has entered administration, akin to Chapter 11 in the U.S., and is a favored brand among British royalty [7] - Next is among several retailers and trade buyers interested in acquiring LK Bennett, which was previously owned by Rebecca Feng [6]