Administrators confirm 1,600 Joules jobs at risk as firm put up for sale
Stricken Market Harborough retailer Joules has called in administrators – but will continue to trade.
Will Wright, Ryan Grant and Chris Pole from Interpath Advisory were appointed joint administrators of Joules Group plc and Joules Limited earlier today (16 November).
At the same time, Will Wright and Ryan Grant were appointed joint administrators of Joules Developments and The Garden Trading Company.
Some 1,600 jobs are at risk across the firms.
The joint administrators say the group will continue to trade as a going concern while they “assess options for the business”, including exploring the possibility of a sale.
All stores, including the group’s online store, will remain open.
Will Wright, head of restructuring at Interpath Advisory and joint administrator, said: “Joules is one of the most recognisable names on the high street, with a unique brand identity and loyal customer base.
“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.
“Since the group’s announcement on Monday, we have had an overwhelming amount of interest from interested parties. We will be working hard over the days ahead to assess this interest, but at this stage we are optimistic that we will be able to secure a future for this great British brand.”