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Joules in talks with Deloitte to grow business

Lifestyle brand and retailer Joules is in talks with advisors at accountancy firm Deloitte about options to grow the business.

Joules is in “early talks” with Deloitte’s corporate finance team about a range of strategies, according to The Independent. These include looking at ways to raise funds to move its expansion plans forward. 

The Independent said Joules was most likely to pursue additional funding, however the newspaper also reported that sources said “Deloitte was preparing the business for a sale process” something which founder Tom Joule has vehemently denied in recent weeks.

Last month the 41-store retailer appointed former Fat Face chief executive Louise Barnes as chairman alongside a number of other board-level appointments.

Joule previously said the hirings would allow the business to expand across all channels, including online, wholesale, retail and overseas, after growing from a £1m turnover nine years ago to a business which he claimed would turn over nearly £65m in this financial year.

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