Reports Joules Administrator On Brink Of Rescue Deal

Market Harborough-based Joules could reportedly be saved by the owner of fellow fashion retailer Phase Eight.

Sky News understands the Foschini Group is close to securing an agreement to buy the majority of the stores and assets and a deal could be reached imminently.

The company, which also owns the women’s fashion brands Hobbs and Whistles, had been in discussions with Joules for several weeks about investing in the business, prior to it calling in administrators earlier this month

If a deal is struck it is unclear what impact there would be on staff employed at the Joules head office in Market Harborough.

Administrators are not commenting on the reports, but have confirmed to HFM that 40 redundancies have been made at the Rockingham Road base, since they were appointed.

The collapse of the company put around 400 jobs at risk in Market Harborough, among over 1,600 jobs nationwide.

The Joules HQ