THE RETAIL BULLETIN - The home of retail news
Home Page
News Categories
Christmas Ads
Commentary
Department Stores
Electricals & Technology
Entertainment
Fashion
Food & Drink
General Merchandise
Grocery
Health & Beauty
Home & DIY
Interviews
Property
Retail News
Retail Solutions
Shopping Centres, High Streets & Retail Parks
Sports & Leisure
Retail Events
People in Retail Awards 2023
Retail Marketplace Strategy 2023
Omni Channel Futures 2023
Retail HR Central
Digital Transformation Strategy 2023
Customer Engagement Strategy 2023
Retail HR 2023
THE Retail Conference 2023
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Joules set to appoint administrators

The parent company of Joules and Garden Trading Company is set to fall into administration after failing to secure a new cash injection. Last week, Joules… View Article

FASHION

Joules set to appoint administrators

The parent company of Joules and Garden Trading Company is set to fall into administration after failing to secure a new cash injection.

Last week, Joules Group revealed that trading had been softer in recent weeks as it announced that it was in talks with a number of investors, including its founder Tom Joules, regarding additional financing.

However, today the company said: “On 7 November 2022, the company announced it was in advanced discussions with a number of strategic investors to provide a cornerstone investment in an equity raise process.

“The company also announced it was in discussions regarding a bridge financing proposal in order to enable continued progress to be made with the re-financing plans referred to above.

“The board confirms these discussions with various parties have not been successful and have now terminated.”

Joules Group has now resolved to file a notice to appoint Interpath Advisory as administrators to the company “as soon as reasonably practicable” and has requested a suspension of trading in the company’s shares.

The news has put some 1,600 jobs at risk.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News