Joules lands £15m credit boost

Market Harborough retailer Joules has increased its credit facilities with Barclays by £15m, it confirmed this morning (21 April).

The moves comes shortly after the firm raised a further £15m through a share issue, which it said has “significantly stregnthened” its balance sheet.

Joules shops are closed, but it says it online customer traffic has been running ahead of expectations.

Nick Jones, chief dxecutive of Joules, said: “The completion of the additional facility with Barclays Bank plc provides Joules with further liquidity to navigate these challenging times and positions the business to continue to progress its strategic growth plans following the current period of significant disruption.

“Our e-commerce sales over recent weeks continue to demonstrate the strength of the Joules brand and the loyalty of our customer base. We know that further challenging times are ahead, but we are confident that, with the continued support of our colleagues, customers and the wider Joules community of suppliers and partners, Joules is well positioned to manage these challenges.”

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