Fashion retailer Jules B‘s decision to close its shop in Harrogate was largely due to the impact of a cyber attack last year, the owner has said.
The Stray Ferret reported last week that the shop, which opened in the former Jaeger unit on Cambridge Crescent in September 2022, was to shut.
Julian Blades, who owns Jules B, today said the attack, which happened last September, “heavily impacted” the business.
He added:
“The cost to recover from this event has put a huge pressure on our working capital and as a result we have had to restructure our company and sadly this has meant the closure of the Harrogate store.
“The retail environment has been particularly challenging the past 12 months with a number of negative factors affecting business, such as unseasonable weather and the cost of living crisis.”
Following the attack, Drapers reported in December Mr Blades “would not pay the $100,000 (£79,200) demanded by the hackers”.
It also said the company had enlisted the help of turnaround firm, KSA Group, to “navigate financial difficulty” and had considered implementing a company voluntary arrangement. However, it was not confirmed if this went ahead.
Mr Blades also told the Stray Ferret the Harrogate store is not the only branch to be affected by the attack:
“We will be reducing the size of our Jesmond store, but our Kendal stores and of course our website will continue to trade as normal.
“The last thing we expected was a cyber attack to add to our misery, but we will prevail, as they say, ‘what doesn’t kill you makes you stronger’.
“I am sure that it won’t be long before we are back but in the mean time we would like to thank all our customers for their support.”
Jules B will close its doors in Harrogate on Sunday, January 14.
