Russell & Bromley is looking to raise its finances to help fund its ‘ReBoot’ turnaround plan.
The luxury footwear brand is understood to be working with Interpath Advisory to secure financing from lenders, reported Sky News. It is unclear the size of the potential fundraising.
“We are currently exploring opportunities to help take Russell & Bromley into the next phase of our ‘Re Boot’ vision,” chief executive Andrew Bromley told the title.
The turnaround strategy, which was unveiled earlier this year, aims to return the brand to long-term growth. The five-year plan focuses on five key pillars: brand and product, people, growth and expansion, marketing, and operations.
It follows a challenging year for the brand in 2024, which saw an operating loss of £9m and sales drop 9% to £56.5m.
Bromley added: “Since the announcement of the ‘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.”
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