Retailer Joules nears collapse with 1600 jobs at risk.

Leicestershire based clothing and homeware group Joules, has said that it plans to appoint administrators after talks with investors to secure extra funding have failed.

It has been suggested that a combination of milder weather and changing consumer spending as a result of the cost of living crisis had hampered sales with recently poor results hitting their share price particularly badly.

It is believed that Next were in talks at the beginning of Autumn, but they have subsequently bought the brand name and IP from – which we documented HERE.

Joules appears like to be the latest casualty in what could be a long line of retailers to feel the pressure caused by increasing costs and weaker demand.