Market Harborough-based lifestyle brand, Joules, is calling in administrators.
It follows the company’s announcement that it was in advanced discussions with a number of strategic investors to provide a cornerstone investment in an equity raise process.
The company also said it was in discussions regarding a bridge financing proposal in order to enable continued progress to be made with re-financing plans.
These discussions however have not been successful and have terminated.
As a result, Joules has resolved to file a notice of intention to appoint Will Wright, Ryan Grant and Chris Pole of Interpath Advisory Limited as administrators to the company and Joules Limited, and Will Wright and Ryan Grant to The Garden Trading Company Limited and Joules Developments Limited.
Joules has requested a suspension of trading in the company’s ordinary shares on AIM from today.
