Joules heading for administration – putting jobs at risk

CLOTHING store Joules is heading for administration.

The chain, which has stores in Dorchester and Sherborne, said it plans to appoint administrators – putting more than 1,500 jobs at risk.

The move comes after the brand, based in Leicestershire, said rescue talks with potential investors failed to secure extra funds to keep the company afloat.

Retailer Next, which last week bought the furniture retailer brand, had been in talks over Joules over the summer but failed to reach an agreement.

Plans for administration come after the company last week revealed disappointing trading figures, due in part to warmer-than-expected weather in the UK.

Joules was originally established in 1977 by Ian Joule, selling clothing and accessories at equestrian and country shows.

However, after the firm was taken over by Tom Joule in 1989, the founder’s son rebranded and opened its first store, in Market Harborough, in 2000.

It now has around 120 stores.

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