The giant fashion retailer, Joules, has revealed it is set to appoint administrators following a failure to secure a vital cash injection. This means around 1,600 jobs are now under threat. The popular brand, famous for its posh wellies, said talks over an 'emergency cash-call' with investors were not successful and have ended.
This included Joules founder, Tom Joule. It said it would file a notice of intention to appoint Interpath Advisory as administrators to the firm and its subsidiaries “as soon as reasonably practicable."
According to the official Joules website, there are 132 stores across the UK, plus four concessions and three franchise stores. In Bristol there is a branch located in the popular shopping spot Cribbs Causeway.
READ MORE: Met Office five day forecast for Bristol ahead of Britain bracing for arctic blast
Across the South West there are also stores in Exeter, Dartmouth, Sidmouth, Bath, Taunton, Sherbourne, Street, Falmouth, Gloucester and Cheltenham among many others.
However in a statement on Monday. November 14, it has announced that the board is now taking action to suspend trading of its shares on the stock market.
It added that further announcements will be made “in due course”.
Joules said: “The board is taking this action to protect the interests of its creditors."
To find out if you have a Joules store near you, visit the website and search for your postcode to find your nearest branch.
READ NEXT:
Qatar 2022: Five great places to watch the World Cup in Bristol this winter
The hidden neighbourhood pub that serves one of the best roasts in the UK
Wetherspoon pub on Bristol border goes on the market after closure announced
The Old Fish Market in Bristol wins Fuller’s Best City Pub Award
Wetherspoons plans to sell off more pubs as venue near Bristol put up for sale
