Joules Share Discussion Threads

[debsdowner] 29/12/2022 12:00

Joules owed more than £114 million when it went into administration this is worse than was indicated when the company made a number of RNS to the market



No wonder NEXT wouldn't take a stake in the company prior to administration it looks like Joules finances were far worse than the market thought at the time.

It would have been a big mistake NEXT taking a stake with the amounts owed to creditors.

There is no way shareholders could get a oenny out of this lot many creditors won't be getting paid never mind shareholders.

Even I hadn't realised the amount of money Joules owed and I think management were not upfront as they could have been when they made a number of trading statements.

[debsdowner] 03/12/2022 15:17

topvest, I agree with you entirely that is what I gained from the RNS and all the news reports, not a mention of shareholders who have supported the company directors through the years and won't get a penny from the administration. I warned to stay clear on the first profit warning and said they are likely to come along like London Red busses and that is what happened.

It is a complete disgrace and didn't Tom Joule get an MBE ? He should be stripped of the MBE he has treated shareholders with contempt.

I also warned to follow Blackrock when they took a loss they sniffed bad news on the way and that is what happened.

Have lost count of the nummber of small to mid retailers gone under from Jaques Vert to Austin Reed and much larger as we know with Woolies and BHS then Debenhams.

Even some of the big Supermarkets struggling Morrisons is losing market share and their debt been downgraded.

[topvest] 02/12/2022 16:20

I don't hold. The RNS today was very poor form. Tom Joules should be ashamed of himself for ignoring any mention of the loss that shareholders and creditors have taken. Surely, the RNS should have given some update on the losers, rather than just the winners. It is not a success story when this happens...it's only a success for the employees, Tom Joules and NEXT with all other stakeholders taking a beating!

"I'm so pleased that we have been able to strike a deal that protects the future of the company for all its loyal customers, its employees and also for the town of Market Harborough, which have been so central to Joules' success."

The company has gone...its in administration. Very poor langauage.

[debsdowner] 02/12/2022 10:36

The business desk

Twelve months which ened Joules as a listed company:

[debsdowner] 02/12/2022 10:10

Tom Joules made a packet when he listed co and sold a led load of shares, made more money as a director, company goes into administration then he does a deal with NEXT to gove him a good stake and makes more money as a director.

Nice one if you can get it and leaves shareholders high and dry out of pocket !

Lessons to be learnt:

Be careful with IPO's a number like ASOS and BOOHOO are still leaving shareholders in tears.

Be careful with what you read in the press as to investors in companies, seems the car dealer been shafted here as well and management took him for a complete mug.

He must be really miffed over been taken round head office and left out of any deal. His take small change compared to some shareholders but Tom Joule has made him look like a complete fool.

He boughtrin what he thought was cheap then the company do a deal behind his back. Maybe he had a hint of something dodgy going on not increasing his stake further.

What is unfortunate as quite a few shareholders followed him in buying more shares.

NEXT are probably the biggest winner here buying a company for just over £30 million and could be making £10 million a year or more in a few years time.

M&S missed out here howeveer but you have to be careful with a bidding war in this climate.

[billy two cocks] 01/12/2022 23:00

Look likes the shareholders are shafted. Best thing to do is buy Afentra (a small oiler). The ex Tullow gang are on board and a multi- bagger awaits. Do your own research, no advice intended. (I am holding, heavily).

[1daka] 01/12/2022 21:19

Garden trading sale still to be announced. Cost. 9m guess it will get sold for about 1m.
Great bit of business Tom.

[debsdowner] 01/12/2022 21:10

This is what concerns me, it is basically a pre-pack and Lord Wolfson was waiting for admin to close down under performing or loss making stores.

If he had bid for Co before admin he would have been stuck with leases on some loss making stores.

The car dealer looks like he has been stuffed and he drew a number of people to follow him in increasing his stake.

The administrators need to clarify if there is any money for shareholders.

[sheepshagger1] 01/12/2022 19:33

There is ZERO for shareholders here.

[careful] 01/12/2022 18:38

Administrations are often a racket.

On the pretence they save jobs the Directors often have an incentive for making it happen, coming out of the failure well.
Shareholders are screwed as are unsecured creditors.

Amazing the rules are not tighter, it seems immoral.

[debsdowner] 01/12/2022 17:59

Not one mention of shareholders in a y news report!

NEXT knew what they were doing withdrawing from stake, this way they take a bigger stake, get the head office, ditch loss making shops.

So NEXT gain majority of company with good assets, they and TM get the prize!

Without more detail shareholders looked like they may be Roast Turkey!

Terrible and sorry for shareholders.

[debsdowner] 01/12/2022 17:36

Not sure as we don't know how much the company owed to creditors and how much the admin has cost.

The winner is Tom Joule however shareholders may get a small amount but could get total stuffed.

Shows how much Tom Joule thinks about shareholders as he says nothing, and what about the car dealer who increased his stake???

If shareholders get 0 he will be furious!

[abcaerials] 01/12/2022 16:50

So what’s happening to the shares of next have purchased the company

[blackbear] 01/12/2022 14:20

This happened to me with L gardner many years ago they didn't even go into administration.

[vaston] 01/12/2022 14:16

SYME about to fly says ceo

[nocton] 01/12/2022 14:14

So Tom Joules and Next clean up.

"Next will own 74% of the equity of the Company, with the remaining 26% owned by Tom Joule."
"I'm so pleased that we have been able to strike a deal that protects the future of the company for all its loyal customers, its employees and also for the town of Market Harborough, which have been so central to Joules' success."

So stuff the shareholders.

[debsdowner] 27/11/2022 15:38

Possible there have been more redundancies at Joules Head office which will make the group more unstable..



Difficult to say whether there are more redundancies than earlier in the week. The bank will be looking to sell the £20 million head office if they dont'e get a reasonable offer for the group to pay down the debt.

This is the Golden quarter the administrators will be looking to wind this up or sell the business soon after Christmas.

I hope someone can salvage the business but if we see more staff go and shops close it will look like only the brand will be sold.

One way or another I think many shops will go.

[debsdowner] 23/11/2022 20:13

Administors make a number of senior directors redundant and say there is a lot of interest over the brand



Administrators will be seeking the best offers but it won't be any easy task, some of the bidders wont want all of the shops and they may not want the head office.

Made.com also in adminsration and non secured creditirs will only get 2%

[debsdowner] 21/11/2022 13:20

ianthebest,

I think there needs to be significant reorganisation and you cannot do that without administration.

What the adminisrators could do is split the company up by selling of Garden Trading but if there was to be a decent offer I think sharehoilders would have known by now.

Mind you the administrators will want to get as much in Christmas trade then think about exiting some unprofitable stores.