Inactive Instrument

Joules Group

Equities

JOUL

GB00BZ059357

Joules shares to be cancelled after Interpath named as administrators

November 16, 2022 at 11:58 am EST

(Alliance News) - Joules Group Plc on Wednesday said it expects the listing of its shares to be cancelled after naming Interpath Ltd as administrators.

Any residual value will be distributed to shareholders as Joules will be wound up after announcing yesterday that refinancing discussions failed.

Shares in the Leicestershire, England-based country lifestyle retailer were suspended from AIM on Monday.

Will Wright, Ryan Grant and Chris Pole of Interpath have been appointed administrators to Joules and Joules Ltd, while Wright and Grant will be administrators to The Garden Trading Company Ltd and Joules Developments Ltd.

Joules last week it was in discussions with founder Tom Joule and its lender about obtaining a bridge loan, as recent weak trading has left its working capital position below expectations. However, on Monday, Joules said the talks failed.

Joules reported that overall trading for the 11 weeks ended October 30 were below company expectations, partly due to economic uncertainty in the UK and mild weather, which reduced demand for outerwear, boots and knitwear.

Joules shares are down 96% over the last 12 months after a series of profit warnings and failed talks for an investment by larger peer Next PLC.

By Jaskeet Briah; jaskeetbriah@alliancenews.com

Latest news about Joules Group

South Africa's Foschini Group aggrieved at failed Joules bid	22-12-15	AN
TIM Group Holdings acquired Garden Trading Company Limited from Joules Group Plc.	22-12-14	CI
TOP NEWS: Next rescues Joules by taking majority stake, keeping staff	22-12-01	AN
UK Retailer Next To Acquire 74% of Joules Group in 34 Million-Pound-Sterling Deal	22-12-01	MT
UK's Next to buy Joules with founder of collapsed retailer for about $41 million	22-12-01	RE
UK Retailer Next Wins Bidding War To Acquire Joules	22-12-01	MT
NEXT plc and Tom Joule acquired Assets of Joules Group Plc from Joules Group Plc for £34 million.	22-11-30	CI
Phase Eight owner TFG open to participate in UK retail consolidation	22-11-30	RE
Joules Administrator Close To Securing Rescue Deal With Foschini	22-11-30	MT
Joules Group Confirms CFO Departure	22-11-25	MT
Joules announces resignation of CFO York as it prepares to be wound up	22-11-25	AN
UK retailer Joules Group's finance chief York leaves	22-11-25	RE
SA's Foschini considers rescue offer for UK retailer Joules	22-11-21	AN
UK Retailer Joules Group Explores Takeover Deal With South Africa's Foschini Group	22-11-21	MT
TRADING UPDATES: Joules nomad resigns; Pharma C loss narrows	22-11-18	AN
TFG Reportedly Weighs Bid for British Retailer Joules	22-11-18	CI
Joules shares to be cancelled after Interpath named as administrators	22-11-16	AN
British clothing company Joules appoints administrators	22-11-16	RE
LONDON MARKET MIDDAY: UK-focused FTSE 250 slips before autumn budget	22-11-14	AN
Retailer Joules to call in administrators as financing talks fail	22-11-14	AN
Informa Gains After Raising Revenue, Profit Guidance	22-11-14	DJ
Strong UK Inflation Data This Week Could Drive Up Gilt Yields	22-11-14	DJ
Joules Group to Appoint Administrators After Financing Talks Fail	22-11-14	MT
Joules Group Provides an Update on Financing Process	22-11-14	CI
Analysis-Heavily discounted UK Plc may have further to fall	22-11-09	RE

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Company Profile

Joules Group plc is a United Kingdom-based lifestyle company. The Company operates through three segments: Retail, Wholesale, and Other. The Retail segment includes sales and costs relevant to owned stores, e-commerce, shows, third-party concessions and franchises. The Wholesale segment includes sales and costs relevant to the sale of products to other retail businesses or distributors for onward sale to their customer. The Other segment includes income from licensing and the Friends of Joules digital marketplace. The Company designs and sells Joules-branded clothing, footwear and accessories for women, men and children, as well as collections of homeware, toiletries, lifestyle and pet product ranges that are designed and developed through selected licensing partnerships. The Company has approximately 135 stores, and four concessions and three franchise stores. It operates in the United Kingdom, the United States, Germany and Europe, and the rest of the world.

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