High street chain Next is in talks with advisers at Russell & Bromley about striking a potential deal.

Next is reportedly among the suitors in line to invest in the shoe retailer, though these have not been identified, City sources told Sky News over the weekend.

It is not clear if a deal between Next and Russell & Bromley would include acquiring the brand or making an investment in the business.

If a deal is struck, this would form another part of Next’s recent brand deals it has acquired or invested in.

It has bought brands such as Cath Kidston, Joules, Fat Face, Made.com and Seraphine.

Recently, Russell & Bromley drafted in advisory firm Interpath to explore options for raising new financing. It currently has over 450 staff and 37 UK stores.

Chief executive Andrew Bromley said in a statement in October: “We are currently exploring opportunities to help take Russell & Bromley into the next phase of our ‘Re Boot’ vision.

“Since the announcement of Re Boot earlier this year, we have made significant progress, positioning us well to build on our momentum and continue along our journey.

“We are looking forward to working with our advisory team to secure the necessary investment to accelerate our expansion plans.”

Sky News reported that over the weekend, Next declined to comment, and both Russell & Bromley and Interpath could not be reached for comment.

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