HIGH street fashion chain Joules has fallen into administration.
Will Wright, Ryan Grant and Chris Pole from Interpath Advisory were appointed joint administrators of Joules Group plc and Joules Limited today.
The group is headquartered in Market Harborough, Leicestershire, and currently operates a total of 132 stores across the UK, employing over 1600 people, including across Scotland.
The joint administrators will continue to trade the group as a going concern while they assess options for the business, including exploring the possibility of a sale as a going concern.
Mr Wright and Mr Grant were also appointed joint administrators of Joules Developments Limited and The Garden Trading Company Limited.
Joules, known "for its premium, colourful clothing ... inspired by country living", earlier warned over its position.
All stores, including the group’s online store, will remain open.
Mr 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.”
All stores and concessions will remain operational, while orders placed online will be delivered as usual. Valid gift cards will continue to be honoured, although customers will no longer be able to buy new gift cards either online or in-store, administrators said.
Customers will be able to exchange items in store only for purchases already made, but unfortunately, refunds will not be available.
The returns policy for new purchases has been revised to 14 days.
Finnieston homes plan approved
AMBASSADOR Group’s detailed planning application for 132 luxury homes at Finnieston has been approved by Glasgow City Council, with the housebuilder declaring the project would have a “New York City aesthetic”.
The development will also include 9,000 sq ft of “prime retail space”.
South of Scotland named one of the world's top travel destinations
THE south of Scotland has been named one of the best places in the world to visit by a renowned travel guide.
Lonely Planet publishes its 'Best in Travel' list every year, recommending places around the world in various categories.
Sign up for free: You can now get the briefing sent direct to your email inbox twice-daily, and Business Week for the seven-day round-up on Sunday 👇
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules here