Joules Group plc and Joules Ltd – administration

Joules Group plc and Joules Ltd, a fashion chain and lifestyle brand which employs more than 1,600 people across the UK, entered administration on 16 November. The AIM-listed business was impacted by the rising cost of living, which has significantly affected consumers’ disposable income. It fell into administration after failing to secure an investment, and had reportedly been in talks with Next (which ultimately acquired the brand, website and intellectual property of Made.com), but discussions collapsed in September. Will Wright, Ryan Grant and Chris Pole of Interpath Advisory were appointed Joint Administrators. Will Wright and Ryan Grant were also been appointed Joint Administrators of Joules Developments Limited, a connected building company, as well as The Garden Trading Company, a furniture and accessories company which was purchased by Joules in 2021. The Joint Administrators plan to operate all stores as a going concern while exploring a possible sale, having already received “overwhelming” interest in the business. Barclays Bank PLC has registered charges against both companies.