UK clothing company Joules to call in administrators

Joules tried to secure new financing last week after a mild autumn hit sales of coats, Wellington boots and wooly jumpers.

Britain's shopping streets are struggling as soaring household bills squeeze discretionary spending and company insolvencies have hit their highest level for 13 years, data showed last month. "The Joules brand is still strong and, though it will need a modern twist to help it survive longer term, there is likely to be significant interest in the name and the intellectual property," Streeter said.

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