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Dec 2022
Next rescue deal set to keep Joules open in Harrogate
Harrogate's Joules shop is set to remain open after the retailer was rescued from administration by founder Tom Joule and high street brand Next.
The deal, announced today, will see 19 Joules stores closed with immediate effect — but Harrogate's James Street shop is not among them.
More than 130 staff across the country have lost their jobs, but 1,450 have been retained. Next paid £34 million for the business, giving it a 74% share to Mr Joule's 26%.
He said:
Next is expected to continue to sell from the Joules website, as well as adding the brand to its own site from 2024.
Marks and Spencer has already warned of a difficult time for retail as businesses face rising costs and falling consumer spending.
Read more:
- Uncertain future for Harrogate Joules branch as company to appoint administrators
- Prestigious building on Harrogate's James Street put on the market
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