News that popular retailer Joules is poised to collapse into administration sparked concern among some shoppers in Nottingham city centre. A total of 1,600 jobs are put at risk and the retailer has a branch in Bridlesmith GateShoppers have called this “a shame” and have expressed that now is “not the time for jobs to be at risk” as the cost of living increases..
News of the potential demise of the popular chain broke on Monday and the fashion firm saw its shares suspended after it filed a notice to appoint administrators on Monday, it was confirmed.
Joules founder Tom Joule said it was “a deeply disappointing day for Joules, and a sad day for me personally”.
He said: “We recognise our business has become too complex and our model today is not aligned to succeed in the current, tough trading environment. Over the last two months I have been back working as part of the new executive leadership team to simplify the business and improve operations. Whilst we have made significant progress during this period, regrettably we simply could not make the required changes to the model quickly enough in this challenging environment.”
READ MORE: Fashion retailer Joules nears collapse with 1,600 jobs at risk
Mr Joules continued: “For our stakeholders, including our customers and our people, we recognise today’s news will be deeply unsettling, and we are sorry for this. However, we would like to reassure everyone that it remains business as usual right now.”
Shoppers out in Nottingham said they were saddened by the news. Janet West, 55, said she goes into the Joules store “now and again.” After hearing the news about Joules, Janet was surprised.
She said: “I thought Joules did well, I’m surprised to hear it. It’s not the time for jobs to be at risk, Bridlesmith Gate isn’t as packed as it used to be.”
Janet who lives in West Bridgford continued and said: “A shop with a name known all around the country can’t even survive. I commend anyone trying to keep a business afloat in this climate.
“1,600 jobs at risk just before Christmas isn’t right. So many people right now are struggling, the high streets struggling and it seems like it won’t end for now.”
The company has around 130 shops in the UK
Frank Gooding, 79, who is originally from Nottingham and is now retired and living in Derbyshire, described the news of Joules at risk of going into administration “a real shame.”
Frank said: “I don’t use the shop a lot but my daughter-in-law does, she’ll be gutted. The quality of Joules clothes are fabulous, my grandchildren have clothes from here.
“I don’t really shop in the adult men's range because their sizes are too small but the news about Joules is a real shame.”
David Gull, 45 who lives in the Meadows and works two jobs, said: “People should have secure jobs because times are difficult. A lot of people are struggling, you should be proud of a company and provide staff with support during difficult times.”
David continued and said: “That’s a lot of jobs that are at risk.”
Lisa Webb, consumer rights expert at Which?, said: “The news that Joules is entering administration will be devastating for its employees, as well as a real concern for customers with orders placed – as exercising your rights is not always straightforward in these circumstances.
“When a company is in administration, it may not accept the return of items. Many customers may find themselves in a situation where items have not been delivered. It is always worth trying to claim for a refund in these situations, but customers should know it is not guaranteed. The cost of repairs for faulty items could still be claimed if they came with a warranty.
“If you’ve bought something on your credit card costing more than £100, the card provider is jointly responsible for any breaches of contract.
“You can claim under Section 75 of the Consumer Credit Act if the item is faulty or not delivered.
“If you paid for goods that cost less than £100 on a credit or debit card, you may be able to claim under chargeback.”
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