Russell & Bromley shop closures have annoyed many loyal customers of the historic British shoe brand after the company shuttered 33 stores following its collapse into administration. The iconic shoe stores have effectively disappeared from much of the UK High Street shopping districts after its bankruptcy.
When a UK company falls into administration, a formal insolvency process takes place where a licensed organisation takes control of a bankrupt company to rescue the business, sell it, or achieve better returns for creditors than liquidation.
