“Everything must go” banner is pasted on the window

Huge luxury shoe and handbag store closes Exeter A “Closed” banner was posted in the window.

The Russell & Bromley store on Exeter High Street was one of dozens at risk of closure after the retailer went into administration.

The store was seen with giant yellow banners in the window that read “All items removed,” “20 percent off,” and “Closed.”

The Exeter store closure comes after Russell & Bromley suffered declining sales and entered into bankruptcy proceedings, with Next acquiring the historic Russell & Bromley name.

Russell & Bromley operates 33 stores in the UK and Ireland and employs approximately 440 people.

but, MEN coverage British retail giant Next said it plans to keep only three stores open.

DevonLive previously reported The three stores that will remain open as part of Next’s deal to acquire the brand are located in Chelsea, Mayfair and Bluewater shopping centres.

Next said in a statement: “This acquisition secures the future of this much-loved British footwear brand.

“NEXT intends to build on this heritage, providing the operational stability and expertise to support Russell & Bromley’s next chapter and enable us to return to our core mission of designing and curating world-class premium footwear and accessories for years to come.”

Andrew Bromley, CEO of Russell & Bromley, said: “Following a strategic review with external advisors, we have made the difficult decision to sell the Russell & Bromley brand.”

“This is the best path forward to securing the future of the brand and I would like to thank our staff, suppliers, partners and customers for their support throughout our history.”