UK clothing company Joules to call in administrators

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Joules tried to secure new financing last week after a mild autumn hit sales of coats, Wellington boots and wooly jumpers, but said today that talks had failed and it intends to appoint administrators from Interpath Advisory.

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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