Joules deal ‘most likely’ to be agreed in hours

Joules administrator Interpath Advisory is understood to be very close to achieving a sale of most of the fashion brand’s assets and stores to The Foschini Group (TFG).  This would see around 30 Joules stores close, leaving around 100.

Whilst the speculation continues, it is believed that TFG’s offer would save the most jobs as well as offer the best future for Joules. Other parties which have bid include Frasers and Next, neither of which are likely to have any interest in keeping Joules’ stores open.

Will Wright of Interpath said: “We are optimistic that we will be able to secure a future for this great British brand.”