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Daily Record

World

Holly Williams, PA Business Editor & John-Paul Clark

Joules set to call in administrators with company on brink of collapse

Joules Bible John Scotland Braehead Edinburgh Oban Perth

Around 1,600 jobs are at risk with top fashion retailer Joules set to go into administration.

The posh retailer looks set to appoint an administrator after the failure to secure an injection of cash in recent weeks to boost the ailing company. The brand - famous for its wellies - say discussions over a last-minute cash-call with investors like founder Tom Joule were unsuccessful and have now concluded with no deal.

Joules said it would now file a notice of intention to appoint Interpath Advisory as administrators to the firm and its subsidiaries "as soon as reasonably practicable".

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