Share price boost for Joules after £15m deal

Shares in Market Harborough-headquartered retailer Joules received a boost on Tuesday (21 April) after the firm confirmed it had signed a new £15m credit facility with Barclays.

By close of trading on Tuesday, shares in the firm were changing hands for 94p each – up by 25% on their opening price.

Earlier in the day, Joules said its online offer was performing well and that the deal with Barclays had give it “further liquidity to navigate these challenging times”.

Jim Quantrill, relationship director at Barclays said: “The company approached us proactively with a comprehensive presentation about their requirements and the financial forecasts for the business. This, coupled with the strength of the management team, has enabled us to respond quickly to this request and to provide the desired funding for a twelve-month period.

“The retail industry, like many other industries in the current climate, is finding trading conditions really tough and it’s vital that companies spend time looking at realistic projections for the future and plan accordingly.

“I am delighted we have been able to continue to support the Joules brand, helping them to achieve their long term growth strategy.”