Housewares Business-to-business magazine for housewares retailers and their suppliers
Joules has fallen into administration putting 1,600 jobs at risk.
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.”
