British shoe chain ‘owes £37.5million’ after plunging into administration and shutting all its stores

Russell & Bromley’s administrators at Interpath expect unsecured creditors, owed £37.5 million, to receive a dividend following the retailer’s January pre-pack sale to Next, while £134,000 of employee claims and £2.8 million owed to HMRC are expected to be paid in full and the remaining stores generated £13.1 million of revenue and £4.1 million of profit before closing in April.

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