4/15/2023 0 Comments Cardscan executive driverThe firm has made the move after talks over an emergency cash-call with investors, including its founder Tom Joule, were unsuccessful last week. Interpath added that it has witnessed 'overwhelming' interest from potential suitors to snap up the brand and its assets since revealing plans to enter insolvency. The administrators said the business will continue to trade and shops will stay open while they 'assess options for the business, including exploring the possibility of a sale as a going concern'. 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. On Wednesday the British clothing company named three administrators from advisory firm Interpath Ltd after the struggling retailer failed to find investors. Fashion chain Joules, beloved by Kate Middleton, Holly Willoughby and Taylor Swift has plunged into administration - putting 1,600 jobs and 132 shops at risk.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |