Joules says turnaround 'progressing well' amid CVA rumours

Exterior of Joules Chelmsford store

Joules has responded to rumours of a potential company voluntary arrangement (CVA) as it continues its turnaround strategy.

The fashion and lifestyle retailer confirmed it is working with Interpath Advisory to assess “certain elements” as part of the development of its plans.

The retailer added that chief executive Jonathon Brown and returning founder Tom Joule are making good progress on the turnaround, which includes driving higher profitability through better pricing and promotions, focusing on shorter lead-time product and optimising its channel mix.

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