What happened: Next has purchased the struggling shoe retailer Russell & Bromley for £2.5 million. However, 33 of Russell & Bromley's shops are at risk amid the acquisition.
Why it matters:
- The deal may save the brand but could lead to store closures affecting employees and customers.
- Next expands its footwear portfolio, impacting the UK retail shoe market.
MNN Take: Next's acquisition aims to stabilise Russell & Bromley, though the future of some physical stores remains uncertain as the company restructures.
Sources: BBC Business