Russell & Bromley, the family-owned shoe retailer, has enlisted City advisers to seek external funding in the face of a growingly competitive high street trading landscape. Sky News has learned that the chain, established in 1880, has engaged Interpath Advisory to facilitate financing from lenders.
The scale of the potential fundraising remained unclear as of Tuesday. Russell & Bromley operates from 37 stores and has a workforce of over 450 individuals. Currently under the leadership of Andrew Bromley, the fifth generation of his family to helm the business.
Actress and singer Billie Piper serves as the brand’s current ambassador as it endeavors to attract a younger audience as part of a five-year rejuvenation strategy. In response to Sky News’ inquiry on Tuesday morning, Mr. Bromley stated, «We are presently exploring opportunities to propel Russell & Bromley into the next phase of our ‘Re Boot’ vision. Since the unveiling of the ‘Re Boot’ earlier this year, we have made significant strides, positioning us favorably to capitalize on our momentum and forge ahead on our journey. We eagerly anticipate collaborating with our advisory team to secure the requisite investment for hastening our expansion plans.»
Interpath chose not to provide a comment.
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