The high street fashion group has acquired the Russell & Bromley brand, three of its 36 standalone stores and a tranche of existing stock, for which it is paying a further £1.3 million. The remaining 33 stores, along with nine concession outlets employing around 400 people, are not included in the transaction and are now under review by administrators. Administrators Interpath said the non-acquired stores would continue trading for now while options are explored, including potential closures or further sales.
According to the British Retail Consortium (BRC)-Sensormatic data in the four weeks from 2 to 29 November the total UK footfall decreased by 0.8% in November (YoY), down from -0.7% in October. High Street footfall decreased by 1.2% in November (YoY), down from +0.6% in October. Retail Park footfall decreased by 0.4% in November (YoY), up from -0.5% in October. Shopping Centre footfall decreased by 1.3% in November (YoY), down from -0.9% in October.
Rising costs have put immense pressure on small high street businesses, pushing many to consider closure or selling due to financial viability concerns in the next few years.
Total like-for-like retail sales in discretionary categories remained below inflation in June, compared to a positive base of +3.2% in June 2024.
