No, Joules has not ceased trading entirely. While some stores have closed, a significant portion of the business continues to operate under new ownership.
Joules Continues Under New Ownership
Joules, the popular British lifestyle brand, has not ceased trading. Instead, it has been acquired through a £34 million deal orchestrated by Next, in collaboration with Joules founder Tom Joule. This strategic acquisition ensures the brand's continued presence in the retail landscape.
Under the terms of this deal, approximately 100 Joules stores are set to remain open and continue trading. This move is crucial not only for the brand's survival but also for job security, as it safeguards around 1,450 jobs across these stores and at the Market Harborough head office.
Impact of the Acquisition: Store Closures
While the majority of Joules stores will continue operating, the acquisition did involve a restructuring that led to the immediate closure of a specific number of outlets.
- Stores Continuing Operations: Around 100 Joules stores
- Stores Ceased Trading: 19 Joules stores
These 19 store closures resulted in the loss of 133 jobs. This partial cessation of trading for a segment of its physical retail footprint was a direct consequence of the acquisition plan aimed at streamlining the business.
In summary, Joules, as a brand, remains active and continues to sell its products through a substantial network of stores and its head office, despite a reduction in its overall store count.
| Store Status | Number of Stores | Impact |
|---|---|---|
| Continuing Operations | Around 100 | Remain open, securing 1,450 jobs |
| Ceased Trading Immediately | 19 | Closed, resulting in the loss of 133 jobs |
