Reports Owner Of High Street Brands Interested In Joules
Written by HFM News on 21st November 2022
It is understood the owner of high street brands including Phase Eight and Hobbs is exploring a bid to take control of Joules.
Sky News has learnt that The Foschini Group (TFG) had been in discussion with the Market Harborough-based fashion retailer for several weeks prior to it calling in administrators, about investing in the business in return for a substantial stake.
The decision to appoint administrators last week has put 1,600 jobs at risk, including around 400 staff employed at the Rockingham Road headquarters.
TFG, which also owns the Whistles women’s fashion brand, is likely to face tough competition to secure a deal for Joules.
Next, Mike Ashley’s Frasers Group and Marks & Spencer are all expected to be among the interested suitors for a business.
Joules’ 132 shops will stay open and operations at its HQ are continuing as normal during the administration process.
TFG did not respond to a request for comment, while administrators Interpath Advisory declined to comment.
The Joules HQ
