Joules on the brink after poor trading leaves working capital position 'below expectation'

Joules Chelmsford

Fashion brand Joules is exploring its options, including a possible CVA, as poor current trading has left the retailer’s working capital position “below expectation”.

While Joules has £11.4m worth of financial headroom and £25.7m worth of debt, this underperformance has led to £5.6m of that headroom being “trapped cash” (cash held in transit by payment providers) and the retailer has a further £5m in loans falling due.

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