Joules raises £15m and vows to emerge from coronavirus stronger

Market Harborough lifestyle retailer Joules has raised £15m through a shares placing.

The firm says the move will it give it liquidity headroom in during the Covid-19 downturn and emerge stronger.

Nick Jones, chief executive, said: “This placing will help Joules to deliver its long-term growth plans as well as supporting the business to successfully navigate through the current unprecedented trading environment. I would like to take this opportunity to thank all our colleagues, customers and the wider Joules community of suppliers and partners for their continuing support throughout this challenging period for us all.

“We are delighted with the levels of support from our shareholders which reflects broad recognition of the strength of the Joules brand and our business model as well as our exciting, long-term prospects.”

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