Senior redundancies reported at Joules

Stricken Market Harborough retailer Joules has made a handful of senior redundancies in one of its first acts since collapsing into administration.

Channels director Rimal Patel and creative director Chloe Ward both left the company on Monday (21 November), Retail Week reports.

The firm’s CFO Caroline York is also set to depart according to an internal memo seen by the trade title.

Eleven other colleagues were also reportedly made redundant on Monday, with more expected to follow before the end of the year.

Joules called in administrators earlier this month after talks over a potential equity raise broke down.

The news followed a turbulent year for the firm beset by declining sales and spiralling costs.

Its collapse has put 1,600 jobs at risk.

On 16 November, joint administrators Will Wright, Ryan Grant and Chris Pole from Interpath Advisory said they were “assessing options for the business” including exploring the possibility of sale.

The trio added they had a received an “overwhelming amount of interest from interested parties” since Joules collapsed.

Last week, The Foschini Group, which owns high street brands Phase Eight, Whistles and Hobbs, was reported to be interested in taking a “substantial” stake in the retailer.

Click here to sign up to receive our new South West business news...