- British clothing company Joules on Wednesday named three administrators from advisory firm Interpath Ltd after the struggling retailer failed to find investors.
The retailer has been struggling with its finances, profitability and cash generation as consumers turn cautious about discretionary spending amid a cost of living crisis.
The company, which employs 1,600 people and has 132 shops in Britain and Ireland, said it had appointed Will Wright, Ryan Grant and Chris Pole.
Joules added that Wright and Grant have also been appointed as administrators to Joules Developments Ltd and Garden Trading Company, which it bought in February last year.
The news comes a week after the online furniture seller Made.com collapsed into administration, resulting in about 400 job losses.
