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Joules has launched consultations over potential job losses after the firm said its new owner Next said it is accelerating transition plans. Next snapped up the troubled fashion brand late last year after Joules fell into administration. The deal saw Next secure the future of 1,450 workers at Joules and 100 stores, although 19 stores [...]
Fashion and lifestyle firm Joules announced it had called in administrators and suspended trading on the London Stock Exchange this morning after emergency rescue attempts failed last week.
The Financial Reporting Council has opened an investigation into the audit of embattled retailer Joules today after Deloitte signed off its accounts prior to the firm’s collapse last year.
The rise of Omicron and ongoing supply chain issues have plagued the profitability of British lifestyle group Joules. In the six month ended 28 November, Joules’s financial results were in line with previous guidance, as profits went down 29.7 per cent on 2020 levels to £2.6m, while revenues hiked to £127.9m. But in the last [...]
Share tanked over 32 per cent this evening for Joules after reports that the beleaguered retailer was weighing up insolvency options. As first reported by Mark Kleinman for Sky News, the British lifestyle brand is working with Interpath Advisory on a company voluntary arrangement (CVA), which would allow the firm to renegotiate liabilities, but could [...]
Next has bought fashion retailer Joules out of insolvency, beating other high street names in a bidding war. The high street chain called in administrators a few weeks ago, with 1,600 jobs hanging in the balance. Now, stalwart Next has confirmed it has emerged victorious in a battle for the brand, forking out £34m for [...]
Administrators were appointed for beleaguered lifestyle retailer Joules on Wednesday, with some 1,600 staff members at risk. Will Wright, Ryan Grant and Chris Pole from Interpath Advisory were appointed joint administrators for the high street firm, which has struggled with a slowdown in sales. Administrators from Interpath were also appointed for its developments arm and [...]
Struggling retailer Joules has revealed talks with investors including founder Tom Joule to inject cash into the business alongside a possible company voluntary arrangement (CVA) restructuring as sales continue to disappoint. The group said Mr Joule – who has recently returned to the firm as product director – is among a number of “strategic investors” [...]
Bosses at retailer Joules are bracing for a “significant loss” in profit in the first half of this year, as inflation and the recent heatwave hit sales. While the company expects its finances to improve in the second half of the year, the board announced today, Joules is expected to report a pre-tax loss for [...]
Joules has acknowledged a CVA is one of a number of “potential options” it may opt for as it seeks to turn around the fortunes of the beleaguered lifestyle retailer. Sky News had reported that the struggling firm had been working with Interpath Advisory to discuss using a Company Voluntary Arrangement (CVA), with job losses [...]
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