The Foschini Group (TFG), which owns British High Street brands including Hobbs and Phase Eight, is reportedly mulling a bid to take control of failed retailer Joules.
Multiple sources told Sky News that the South African retail group’s UK arm, TFG London, is exploring whether it could take control of Joules from insolvency practitioner Interpath Advisory.
Joules, which has 130 stores and employs 1,000 staff across the UK, said its sales have plunged by 90 per cent since the start of the year.
The company announced it was bringing in the administrators having failed to come to a buyout arrangement after talks with a number of suitors, including Next.
The company revealed worse than expected sales, attributing this to unseasonably warm weather and the "challenging UK economic environment which has negatively impacted consumer confidence and disposable income”.
Latest News
-
UK retailers say High Streets to lose 300,000 jobs over next 3 years
-
Dr. Martens announces appointment of 2 non-exec directors
-
ASA bans Next advert as model appears ‘unhealthily thin’
-
Shein halts UK warehouse plans as London listing faces headwinds
-
Pret reverses decision on coffee subscription price hike
-
Harrods rolls out AI-powered platform to boost digital marketing strategy
.JPG)
Poundland significantly reduces antisocial behaviour, aggression and shoplifting with Motorola Solutions VT100 body cameras
Retail should not be a high-risk occupation. As a company, we are focused on listening to our colleagues and customers to help them with the issues they are facing in-store and so far, the feedback on our body cameras has been excellent. They act as a great visual deterrent, help to de-escalate situations and overall, this project has significantly aided our goal to make the retail environment safer.
For further information on Motorola Solutions’ retail security products, including body cameras, click here.
For further information on Motorola Solutions’ retail security products, including body cameras, click here.
Supplying demand: how fashion retailers can meet the needs of customers and still be sustainable
The fashion industry is no stranger to breaking the mould and setting trends, but the pursuit of style can come at a huge cost to the environment.
New legislation, such as the European Union's Ecodesign for Sustainable Products Regulation, will set mandatory minimums for the inclusion of recycled fibres in textiles, making them longer-lasting and easier to repair.
New legislation, such as the European Union's Ecodesign for Sustainable Products Regulation, will set mandatory minimums for the inclusion of recycled fibres in textiles, making them longer-lasting and easier to repair.
© 2024 Perspective Publishing Privacy & Cookies
Recent Stories