Next in talks to take £15m stake in struggling chain Joules

Smaller retailer also in negotiations for deal to use its larger rival's online platform to run digital operations

Next is in talks to take a 15m stake in the struggling high street retailer Joules.

Joules, whose share price has slumped by almost 90% over the last year, said it was in talks with Next about raising the sum in a deal that would result in the clothing and homeware retailer taking a strategic minority investment in the company.