Joules’ Founder Prepares To Return To Executive Role
Written by HFM News on 3rd October 2022
The founder of struggling Market Harborough-based retailer Joules is preparing to return to the company in an executive role.
Tom Joule is promising “surprises and delights” for customers as he takes on responsibility for product development with its clothing, footwear and accessory lines.
He says he will work with new CEO Jonathon Brown in developing Joules’ turnaround plan – after talks with Leicester fashion giant Next about a potential investment worth £15m stalled last month.
The Joules HQ
However, as Joules’ share price continues to fall, there are fears it may need to resort to a CVA – a company voluntary arrangement – in order to cut its spiraling costs.
That could potentially mean store closures and job cuts – with the firm pushing for rent reductions on remaining Joules outlets.
Currently, the Rockingham Road based business employs around a thousand people in 130 stores.
