Article 66CQM Next rescues Joules from administration, saving 100 shops and 1,450 jobs

Next rescues Joules from administration, saving 100 shops and 1,450 jobs

by
Sarah Butler
from World news | The Guardian on (#66CQM)

Fashion retailer joins Joules founder in last-minute 41m deal, but 24 stores will close

Next has teamed up with the founder of the collapsed fashion chain Joules to rescue it from administration in a 41m deal that will save about 100 shops and 1,450 jobs.

Sources said Next placed a last-minute bid in the early hours of Thursday morning, trumping one placed by South Africa's Foschini Group, the owner of Hobbs and Whistles. Marks & Spencer and Mike Ashley's Frasers Group are also thought to have taken an interest in Joules, which is best known for its jackets and patterned wellington boots.

Carmarthen

Cheltenham

Chichester

Edinburgh

Exeter

Gateshead

Lyme Regis

Newbury

Northcote Road, south London

Oxford

Peak Village, Derbyshire

Peterborough

Reigate

Salcombe Fore Street

Sherborne

Southwold Little Joule

St Davids

Waterloo station, London

Watford

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