Daily Mirror (Northern Ireland)
1,600 jobs at risk at welly giant Joules
FASHION retailer Joules has announced it is going into administration in a move that puts 1,600 jobs and 132 stores under threat.
The posh welly brand, which counts Princess Catherine and Taylor Swift among its fans, said talks over an emergency bailout with investors had failed.
It has been hit by soaring energy costs and a slump in consumer spending, while failing to keep up with changing fashions.
Joules is preparing to appoint administrators Interpath Advisory Ltd in five to 10 working days.
Joules said: “The board is taking this action to protect the interests of creditors.”
Management stressed its stores and websites will continue to trade as normal.