Shoosmiths advise administrators on sale of Joules to NEXT plc and Tom Joule

Shoosmiths corporate restructuring & advisory group have advised administrators Interpath Advisory, on the sale of the majority of the business and assets of Joules Group plc and Joules Limited to a newly formed company which is a joint venture set up by NEXT plc (NEXT) and Joules founder, Tom Joule.

The new company has acquired around 100 Joules stores, with approximately 1,450 employees across these stores.  The head office in Market Harborough, Leicestershire has also been acquired as part of this transaction.

Will Wright, Ryan Grant and Chris Pole from Interpath Advisory were appointed joint administrators of Joules Group plc and Joules Limited on 16 November 2022 and instructed Shoosmiths to act in connection with the sale. Corporate restructuring & advisory partner Sarah Teal led the deal with support from Bethan Moore, Hollie Wrigley, Hannah Gaskell, Charlotte Duce, Charles Williams and Yasmin Brown.

Will Wright, head of Restructuring at Interpath Advisory and joint administrator, said: “Following a highly competitive process, we are pleased to have concluded this transaction which secures the future of this great British brand, as well as safeguarding a significant number of jobs. To have achieved this in such a short timetable is testament to the support we’ve received from employees, suppliers and other key stakeholders throughout the administration process, so we’d like to express our profound thanks to everyone involved.”

Sarah Teal, partner, added: “We were very pleased to have been instructed by Interpath Advisory to assist on this highly complex matter, which has now concluded. We are proud to have played a part in supporting and securing the future of Joules, a well-loved British brand.

Shoosmiths corporate restructuring & advisory team have acted on a number of high-profile restructuring matters in the retail sector including Poundstretcher, Moss Bros, Jigsaw, Jaeger, Harveys / Benson for Beds, Oasis, Cath Kidston, Regis Supercuts, Monsoon / Accessorise and Oddbins.


This information is for general information purposes only and does not constitute legal advice. It is recommended that specific professional advice is sought before acting on any of the information given. Please contact us for specific advice on your circumstances. © Shoosmiths LLP 2024.



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