Joint administrators Will Wright, Ryan Grant and Chris Pole of Interpath Advisory will continue to trade Joules and Garden Trading Company as going concerns following their official appointment to the challenged retail business.
“Joules is one of the most recognisable names on the high street, with a unique brand identity and local customer base,” said Will Wright, joint administrator, Interpath Advisory.
“Over the coming weeks, we will endeavour to continue to operate all stores as a going concern during this vitally important Christmas trading period while we assess options for the group, including a possible sale.
“Since the group’s announcement on Monday, we have had an overwhelming amount of interest from interested parties. We will be working hard over the days ahead to assess this interest, but at this stage, we are optimistic that we will be able to secure a future for this great British brand.”
It is being suggested, but could not be confirmed, that Tom Joule may be preparing a bid that would rescue the core business but could well see a shedding of at least half of its stores. Others suggest that Next, which had pulled out of an earlier investment deal with Joules, will also be likely contenders.