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Who didn't see that coming! https://www.bnnbloomberg.ca/next-buys-collapsed-uk-retailer-joules-out-of-insolvency-1.1853532
Wink
Are next in charge yet?
At last some sense here. Don't like to give it the 'told you so'... but this was on a one way track. I kept asking where is the good news for ages.
Will post more detail later tonight or tomorrow. I know a fair few Joules employees so happy to share the inside track. OI bet others will too. The rumour in the company for ages has been TJ has wanted to buy 'his' company out of administration. I for one hope that is not allowed to happen.
If you want a microcosm of the problem - take last Thursday. Joules went with their Black Friday event early and their website crashed (again)! And their new CEO is supposed to be an IT guru. It is laughable. Tom has steered this company into administration with a series of awful decisions. He bought Garden Trading form his mate! Where is the boy wonder from the 2016 flotation now? And they spent a fortune on a massive knees up for store managers at head office a few months ago. No expense spared. The bill for that must have been huge. Sadly all those staff will now be looking for a new job. And that's not the half of it, trust me.
Hilarious! Let’s see wha the SP does today…
Let’s play ‘how many shops will Joules have a year from now’? Well over 100 at the moment. Place your bets. Just for fun of course….
Trust me. Oh yes it is!
Nothing article. The Times just filling space with old news. We knew all of this already. The restructuring plan. That’s what I want to see. And I’m sure Joules workforce feel the same!
I agree. Bit of a dull day to be honest after the media news over the weekend. Was expecting more in terms of the SP today. Think next news will be the re-structuring plan. That can’t be far off. What will the re-sized business look like?
I posted a few weeks ago. Question I asked then was when will the bleeding stop? When would we have good news?
Since then Next have pulled out. There was a leak saying they would via Sky. Company denied it but that was right. SP drifted down to 8p. Cheap as chips. Led to lots of people saying Joules would be bought out. In September no one has even increased their shareholdings to a substantial level that this would have to be declared to the market.
But good news as Joules reported they were still in talks with Next about using their platforms. That story has gone away. But the leaks haven’t. Another one to Sky yesterday and once again this proves to be on the money. SP drops to under 5p and market cap is virtually nothing. Still no takeover, no Director share purchases, no investment by Tom Joules to back up the balance sheet.
Imagine what it must be like to work for Joules at the moment? I ask again… when will we hear some good news?
Pop as in the business is going bust or pop as in the SP is about to rocket? Keen to know more
Do staff get a redundancy payout if the company goes pop? Great buying opportunity this at £2, £1.50, £1, 50p, 25p, 10p, 6p.
Being serious. When was the last piece of good news? And I don’t count replacing a shocking CEO with a better one as that.
Good spot. Always happy to acknowledge my mistake. Lowest unemployment since 1974 is what I should have typed. The point is…. Loads of places for the Joules workforce to move to. Question to all….If you worked for this company would you be sitting tight right now?
You must have missed the news report yesterday regarding our lowest employment rate in this country since 1974. In another post you have made a comment about his son messing it up! Do you actually know anything about Joules? Certainly not up to speed on their history and management models. I presume your comment about selling wellies and coats to save the business is a joke?
Hearing some absolute nonsense across this board. This has gone from £3 to 10p. Premier League to Vanorama. Next not interested. Up the road from Joules and not willingly to pitch in a meagre 15M. What does that tell us? CEO gone. Leaky ship with new releases in the Sunday papers. I bet staff are leaving in droves. Like the shareholders….
That is actually a good point. Will help a bit
And with 100 plus stores nationwide, I wonder what their increased overhead costs look like as winter approaches? Maybe they’ll start a line in flowery Joules candles?
You might be right but the recession isn’t going to be over by Spring 23. If the predictions are right, the cost of living crisis will be in full swing. Flowery clothes or paying your leccy/gas and mortgage bills… you decide…
We need some news here don’t we? Maybe today? Hard to believe Joules is close to 20p now.
The latest leak in the press about talks not going well with Next is uber frustrating. Next won’t like that and we clearly have a leaky ship. If Next walk away what will the share price fall to? And I wonder what the last 3 months have done for staff morale within the company?
Two thoughts on that then: 1/ maybe they won’t go with Next and 2/ even if they go with Next why is it a weakness to have a CEO with excellent IT credentials. Complimentary skills. Not seen many complaints here re: Joules marketing dept or product design.