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Nigel TAYLOR Published
December 6,长沙交易USDT 2025
Newcastle-based premium fashion retailer Jules B is looking to restructure and attract investors to rebuild the struggling business.
The online-focused retailer, which also operates five stores in the North East, has hired KSA Group to help it navigate its current financial difficulties with the turnaround specialist proposing a company voluntary arrangement (CVA) to restructure the business as an alternative to administration.
The impact of a possible CVA on stores, whether that would involve closures or a switch to turnover based rent, has yet to be decided. Discussions with landlords are still ongoing, reports said.
However, co-founder and MD Julian Blades is understood to have said that if deals could not be struck with landlords, stores may have to close. But he and co-founder Rhona Blades said they intend to continue to trade and are looking for new investors.
The proposed recovery plan comes after a year of tough trading and a cyberattack in September. It’s claimed the attack cost the business two weeks of trading online.
Julian Blades says he and his wife are the biggest creditors, owed £1.2m by Jules B Ltd, but they’re foregoing that as part of their restructuring.
The business currently employs 55 people and has a central head office, warehouse and additional storage space in Newcastle.