Troubled fashion and lifestyle retailer Joules has admitted it may have to enter a special form of insolvency as it seeks to turn around its fortunes in the face of weakening consumer demand. The company – now under the leadership of chief executive Jonathon Brown, a former director at John Lewis – said it is making “good progress” with its turnaround plan. This is concentrated on improving the pricing and promotional strategy, increasing focus on more profitable product categories, and optimising the group’s sales channel mix. READ MORE: Glasgow footfall down a fifth compared to pre-covid levelsBased in Leicestershire, Joules is known for its countryside-inspired look and 'yummy-mummy' demographic. Shares in Joules, which traded as high as 144p in January of this year, closed yesterday unchanged at 9p.

Source: The Herald October 11, 2022 08:29 UTC