Joules in administration?

[QVC Princess]

Someone on the QVC FB page has posted that Joules have gone into administration.Anybody know what’s going on?

 

[AndiK]

It was in the radio news headlines this morning. I always think it’s sad, no matter what the reasons.

Retailer Joules nears collapse risking 1,600 jobs

The UK clothing and homeware brand is set for administration after failing to raise extra investment.

www.bbc.co.uk

 

[Toril]

Sadly, I think a lot of companies will end up going into administration. I have never bought anything from Joules, but it’s so sad when people lose their jobs, especially at this time.

 

[merryone]

Sadly, I think a lot of companies will end up going into administration. I have never bought anything from Joules, but it’s so sad when people lose their jobs, especially at this time.

I agree, and sadly it will be these home grown companies that'll be most affected. People just cannot afford to trade up any more just to get that nice little logo, or trademark look. Primark are duping everything from Armani to Zara nowadays, and many are buying clothes in the supermarket whilst they're shopping for groceries.

 

[Sazza]

Talks for Next to invest in them stalled in the summer.

 

[boffy]

Sad times. I suspect its not just going to be Joules. And all those people losing thier jobs anather catastrophe!

 

[mrwhizzard]

Next will probably swoop in and pick up whatever meat is left on the bones - some of the Joules stuff Next sell (ties as an example) are only sold at Next, and not through Joules direct. Much like they did with Laura Ashley and made.com they'll take the brand and use it to bolster their ranges. Why invest if you can get the business and brand as your own potentially.

 

[Mazza]

Don’t M&S sell Joules stuff as well, online at least, or did I just make that up? It’s very sad news for the staff.

 

[Sazza]

Don’t M&S sell Joules stuff as well, online at least, or did I just make that up? It’s very sad news for the staff.

Yes they do

 

[Silver Fox]

It was rumoured a while ago that Joules were in trouble, very sad another name from the HS but more so those who have lost their jobs.I have liked the range and have bought quite a few tops over the years but I don’t think they have ‘moved on’ with their designs.It is very difficult to keep your core customer but offer them newness enough to keep them.There are only so many tops with stripes and flowers that you need or want.

 

[Linwood]

They (Joules) have said last week "that recent sales had been weaker than expected as consumers cut spending in the face of the soaring cost of living". It's a shame so many are going under and hundreds of jobs lost.

 

[donna255]

It was on the news today that Primark are making a killing. They are still not doing online delivers but click and collect it seems. The film showed the store crowded and people trolleys full of clothes

 

[Silver Fox]

You just have to look at a website and if you sign up with email they offer 10/15/20% off a first order, often free delivery & returns.Everyone is thinking how and where they spend their cash, if spending at all.Only exceptions seem to be the Qurio gang?

 

[Suki 1]

Don’t M&S sell Joules stuff as well, online at least, or did I just make that up? It’s very sad news for the staff.

Yes they do.

 

[Sarahmccrossan]

I’m in mourning I adore joules. I’m sad a throughly British company is on trouble x

 

[Snowstorm]

Sad times. I suspect its not just going to be Joules. And all those people losing thier jobs anather catastrophe!

Sad and very different times now.

 

[boffy]

I dont go mad in Primark but they have upped thier game a lot over the years. I wanted one of those Longline poodle coats. I went in Ugg and tried one on and Primark. The ugg one was around £200.00 and the Primark one £39.00. To be fair the Primark one was a better fit wider and longer so it was a no brainer to buy it. They had other beautiful faux fur coats in a riot of colours for way less than that. Not saying they will last as long as UGG but for me it was just a bit of fashion fun that I liked the look of.

 

[maymorganlondon]

Pre and immediately post Christmas are the times when businesses tend to go to the wall, sadly. With Christmas being the saviour of many a terrible trading year; cashflow being critical for the survival of every type of business; and the business world always able to spot a business in trouble... you have a perfect recipe for disaster. You need a big investment in stock to do well at Christmas, which ties up your money thereby reducing your cashflow until you sell that stock (which is why Q were flogging the Elemis TSV so long and hard in advance of the TSV day). Lines of credit die up when the difficulties aren't fully known, and worse, suppliers won't release the stock you order without payment up front... that's before the rug gets pulled up from under the business by the main creditors like the banks.

Small and medium British businesses are extremely vulnerable as the largest and nearest export markets have all but dried up now as the cost of exporting to the EU has added to the cost of goods sold.

I hope Joules can find a way to survive with the help of a clever and determined administrator; but recent years have shown that brand names are being saved by the retailing vultures, not the jobs nor the high street presence.

 

[Vienna]

Trying to shop locally and in bricks and mortar stores has become nigh on impossible where I live. Our town centre consists of charity shops, vape shops , pound shops, the likes of Greggs and McDonalds and little else. Our indoor shopping precinct has more empty units than occupied ones and I`ve just heard 2 more shops in there are about to close.
We have an indoor market which is also shrinking and more and more stalls are closing down and not being replaced. I believe the rents have doubled for stalls and the stall holders can`t compete with the prices of supermarkets or online clothing brands. We have a stall which sells locally made bread, cakes, pies and pastries and use organic ingredients etc plus they cater for people who need gluten free stuff. At £3.50 for a cob loaf they are probably twice the price of a supermarket bought loaf.
On the outskirts we have a retail park which houses the larger stores such as Matalan, Next, Sports Direct, Argos etc etc but unless people have a car or are prepared to cough up for a taxi they`d be nigh on impossible to get to and the same goes for the not too far away Trafford Centre or Cheshire Oaks.
I`d love to be able to browse the town centre, buy individual items from local small businesses and support my home town but sadly the rot is too far gone and like other town centres it will become a ghost town.

 

[SisterBliss]

Pre and immediately post Christmas are the times when businesses tend to go to the wall, sadly. With Christmas being the saviour of many a terrible trading year; cashflow being critical for the survival of every type of business; and the business world always able to spot a business in trouble... you have a perfect recipe for disaster. You need a big investment in stock to do well at Christmas, which ties up your money thereby reducing your cashflow until you sell that stock (which is why Q were flogging the Elemis TSV so long and hard in advance of the TSV day). Lines of credit die up when the difficulties aren't fully known, and worse, suppliers won't release the stock you order without payment up front... that's before the rug gets pulled up from under the business by the main creditors like the banks.

Small and medium British businesses are extremely vulnerable as the largest and nearest export markets have all but dried up now as the cost of exporting to the EU has added to the cost of goods sold.

I hope Joules can find a way to survive with the help of a clever and determined administrator; but recent years have shown that brand names are being saved by the retailing vultures, not the jobs nor the high street presence.

Another victim of the shitstorm that Brexit created?