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to keep the brand alive and shareholders don't get shat upon like normal ..
Been so many already this year, something needs to change, happening far too much for my liking !
Thankful I got out a few weeks ago, albeit at a small loss, just thought something weren't adding up here ..
ATB
Whats happened here is a cliche im afraid, seen it time and time again, founder sells out to rapturous applause and then the rot of over expansion and saddling the come witb debt sets in, this is fine in good times but once things tighten these lifestyle brands really struggle. Sorry for all shsre holders , im sure Wolfson, Ashley will not battle it out perhaps M&S, with Next & M&S alot of staff have crossed over in past especially Next. I hope for Market Harboroughs sake that someone steps , whole thing needs stripping right back and buying inventory and sourcing needs to be dragged into the real world.
Living in Market Harborough I also hope someone steps in as this will be a major impact on the town. I feel for PI's that have potentially lost out here but also for friends that work at Joules, many having taken shares and reduced salary during the pandemic to help reduce costs, double whammy. Keeping my fingers crossed for all of you with shares and for my friends.
Bushy someone will def step in, Wolfson favourite, going to be some more job losses but i think it can comeback given the right guidance which Next or poss M&S can give it, there is management in both of these companies that have a personal vested interest in Joules rising from the ashes.
Wouldn't surprise me if Next or M&S are successful that TJ is bought back in as an advisor, sadly this of course won't help shareholders but at least it will give security to workers.
Yes - no doubt Next saw the writing on the wall and I would be surprised if they don't snap up the brand. Some hope for workers which is a good thing. No doubt the BOD / TJ will do fine out of the mess, as per usual.
Seems, as well as some of us lowly PIs, a whale was caught up in the net:
https://www.thisismoney.co.uk/money/markets/article-11375095/Doncaster-businessman-Richard-Teatum-ups-stake-Joules.html
KBYK i saw this a few weeks back and was shocked, all the major players on sidelines, given current climate were never going to step in, they have all been in the waiting room sitting patiently to get to this point, why why why a second hand car dealer pumps in all this money given the fact that Next walked away i'm dumb founded, hopefully he bailed last week.
https://www.joulesgroup.com/investors/shareholder-centre/key-shareholders/
Toms also gonna be hurting in more ways than one.
it is sad for the employees I agree but the management have let this business slide for years....too expensive, poor quality better competition out there I'm afraid.