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.
