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Joules considers selling stake to fund expansion

Lifestyle retailer Joules is mulling over plans to sell a minority stake in the business to fund expansion.

The retailer’s founder and largest shareholder, Tom Joule, is understood to have held talks with advisory firm Rothschild to sell part of the business, the Evening Standard reported. 

The move comes two years after Joules attempted a similar process but shelved the project.

Joules is looking to expand its homewares business after recently launching into soft furnishings. It is targeting underlying earnings of up to £7m this year, which would value the business at about £45m.

It is also looking to expand its international arm from a handful of franchise stores in France and Sweden into more of Europe, the US and southeast Asia.  

Joules reported pre-tax profits of £1.15m in the year to May 27, following a loss of £535,000 the previous year.

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