The board of country fashion retailer Joules say they are confident they can turn the business around after reports it was exploring a CVA in a bid to avert its collapse.
And they said a turnaround could include raising equity to pump funds into the business and help get it back on track.
Shares in Joules dropped a third today (Thursday) to 5p – giving it a market value of £5.6 million – as Sky News reported the business was working with Interpath Advisory on voluntary insolvency plans that could trigger store closures or rent reductions, and job cuts. A little over a year ago, in June 2021, shares in Joules had been trading at 300p.
