Joules falls into administration

Joules has fallen into administration putting 1,600 jobs at risk.

A Joules shop in Nantwich, Cheshire. Photograph: Christopher Furlong/Getty

Leicestershire-based company, which has 132 shops across the region including at Cannock’s McArthurGlen designer outlet, Shrewsbury and Birmingham, will continue to stay open while administrators look for a buyer.

Many retailers have been struggling as consumers cut spending amid rising prices. Inflation rose to 11.1% in October, latest figures show.

Will Wright, one of the administrators from Interpath Advisory, said: “Over the coming weeks, we will endeavour to continue to operate all stores as a going concern during this vitally important Christmas trading period while we assess options for the group, including a possible sale.”

Wright added: “At this stage we are optimistic that we will be able to secure a future for this great British brand.”

Check Also

Nfinite expands product visual creation offerings for CPG companies

Nfinite has expanded offerings for CPG and released new insights from independent research conducted by …