Concerning news for the high street
News that popular retailer Joules is poised to collapse into administration sparked concern among some shoppers in Nottingham city centre. A total of 1,600 jobs are put at risk and the retailer has a branch in Bridlesmith GateShoppers have called this “a shame” and have expressed that now is “not the time for jobs to be at risk” as the cost of living increases..
He said: “We recognise our business has become too complex and our model today is not aligned to succeed in the current, tough trading environment. Over the last two months I have been back working as part of the new executive leadership team to simplify the business and improve operations. Whilst we have made significant progress during this period, regrettably we simply could not make the required changes to the model quickly enough in this challenging environment.
Janet who lives in West Bridgford continued and said: “A shop with a name known all around the country can’t even survive. I commend anyone trying to keep a business afloat in this climate. “I don’t really shop in the adult men's range because their sizes are too small but the news about Joules is a real shame.”
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Retailer Joules nears collapse risking 1,600 jobsThe Leicestershire-based UK clothing and homeware brand is set for administration after failing to raise extra funds
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Joules set to collapse into administration putting 1,600 jobs at riskThe fashion brand has 130 shops across the UK
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Joules set to call in administrators with company on brink of collapseThe chain employs around 1,600 staff and has 130 shops, including 12 in Scotland with branches in Edinburgh, Braehead, Perth and Oban.
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Joules to enter administration after failing to secure fresh funding\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
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