Joules Share Discussion Threads

[debsdowner] 20/11/2022 16:36

1dakata,

Don't blame yourself we all make mistakes it did look at the time that he may have been a lifeline increasing his investment but he wasn't short of money and his stake was pocket money to him.

I was a bit sceptical he was trying to increase the share price however in order to do a placing but I think the company was in too much trouble by then.

NEXT walking away spoke volumes to me I suspect Lord Wolfson took the view the company was unsaveable with all its shop rents and there would have to be some sort of CVA and then se if he could do a deal with administrators which is not that far off as to what is happening now.

But I am sorry if you or any other poster here thinks I am on here to say I told you so I am not like that we all make mistakes I have lost money myself over the years on a few companies which have gone bust so I know what it feels like.

What I did think was wrong was Teatrum being as vocal as he did and making sure the press run the story it encouraged investors to buy shares on a lot of potential upside but who knows what management fed him at the time.

I just hope there is some bidding going on to salvage something for shareholders.

[1daka] 20/11/2022 15:40

God, I was wrong here. Did make a remark at the time that Teatrum want a new investor. He owned share well prior to all the publicity. 23rd September he owned 5%

[debsdowner] 20/11/2022 11:59

According to this link there may be some residual money for shareholders but I wouldnt have expected much if any at all but don't give up hope:-

“The board currently expects that, in due course, the listing of the company's ordinary shares will be cancelled, any residual value will be distributed to the company's shareholders and the company will be wound up.”



Any residual value depends how big the debts have climbed to and how mauch a bidder is prepared to pay. I suspect some shops will be losing money and a bidder won't want many of the shops.

However the administrors do have a duty to protect jobs and if say MARKS, FRASERS or NEXT is prepared to keep on most jobs the administrators would favour any of those save closing all stores.

[debsdowner] 20/11/2022 11:34

iamthebest,

This is a difficult one, I suspect there won't be enough in any bid to pay all the creditors and administrators fees just increase what is owed.

It really is a diablolical state of affairs, the acquisition of Garden Trading and increase in debt look like it was the wrong thing at the time but it's all right saying that with hindsight.

I was relying on my gut feeling months ago when the trading looked like it may be in difficulty and I happen to think things were worse than they were admitting at the time.

But I am truly sorry for shareholders some would have lost a small amount of money some a large amount.

I don't think that was very good of the motor dealer making press statements saying he thought the shares were too cheap he had no knowledge at the time about the accounts and maybe foolish of the company showing him round the head office and allowing press statements when they evidently knew things were bad.

All in all I doubt very much there will be anything for shareholdsers.

[debsdowner] 19/11/2022 19:03

South African Retail Conglomerate looking at taking a significant stake in Joules

hxxps://www.retailgazette.co.uk/blog/2022/11/phase-eight-joules/

Frasers, NEXT and MARKS also interested says Retail Gazette

[debsdowner] 18/11/2022 11:04

diku, terrible situation for shareholders who are always back of the que so far as creditors are concerned. No doubt the administrators are trying to find buyers for Garden Trading but I think most of the shops will be shut down and the brand sold off but even then shareholders are likely to get nothing.

[diku] 16/11/2022 17:06

Just 12 months ago it was riding at 200p and now nothing...and no doubt some saw it as buy opportunity as it came down from 300p around June 2021...only to see it keep going down...these deters punters from hanging around for too long in any one share...hence market turned into gamblers paradise...

[debsdowner] 16/11/2022 16:57

RNS


"The Company's shares were suspended from trading on the AIM on 7 November 2022. The Board currently expects that, in due course, the listing of the Company's ordinary shares will be cancelled, any residual value will be distributed to the Company's shareholders and the Company will be wound up."

All now depends how the administrators deal with the assets ut their costs will just add to all the other creditors. You usually find out in due course there is nothing left for shareholders what a disgrace.

The company must have been trading at a loss recently otherwise the founder would have pursued a bridging loan further.

Doesn't feel right to me I said a number of times the last 6 months or more profit warnings tend to come along in threes like London red busses and that is what happend.

I feel sorry for all shareholder some of which may have lost a lot of money bear in mind some pension funds were probably invested as well.

[debsdowner] 16/11/2022 16:18

Ferrugia,

Retail Gazerr raises a number of concerns over the running of the company, but maybe missed a number of issues.



I am not so sure if they were upfron about trading one minute they were giving the immpression things were OK the next minute a profit warning.

But the red flags to me was the borrowing continuimng to go up. They also bought Garden Trading at the worng time and probably over paid for the company, then having to raise borrowings. Maybe they should have raised cash when the share price was higher.

All in all I am not so certain whether they had a good handle on running a company as sales started to rise.

Its a hell of a shame imo and a pity for holders but fashion retail is really very tough.

When NEXT walked away so should shareholders and it also raised a red flag when Joules were not giving NEXT all the information they wanted.

I think the company knew then it was in deep trouble but didn't want to admit it.

I think the company could be accused of "misrepresentation" but not easy to prove.

The whole situation doesn't look right.

[farrugia] 16/11/2022 08:49

couldn't the directors be accused of willful misrepresentation here? From advanced discussions to bust just like that!?

[debsdowner] 14/11/2022 21:37

SKY

"One particular gap in the market he identified was for highly coloured patterned wellies. The company floated on the Alternative Investment Market in 2016 with a valuation of £140m, at which point Mr Joule sold down part of his stake for a £40m."

If Joules was making money the founder would be buying the company for a few million and or paying down debt and doing a CVA.

The company is evidently not profitable and it looks like it hasn't been profitable for a while.

[debsdowner] 14/11/2022 21:25

Blachorse once admistrators come in their fees rise and I doubrt if there will be abything for shareholders and I am sorry for this as I did warn profit warnings tend to come in threes like "London Red Busses" and this is what SKY have said tonight



Whether Tom Joule can do a pre pack is a difficult one but I doubt it somehow it depends if the company is still losing money.

The most valuable asset is probably the head office and Barclays will want that sold. Without the Head Office a suitor may as well just buy thae brands and administrators will just sell off all stock at best price they can get for all other creditors which will be the suppliers.

Joule have 2 million customers so there is some value there but how many are just clothes is another matter.

I suspect Garden could be sold off but we don't know if that is making any profit.

Frasers look to me like a good suitor along with NEXT but don't know if NEXT will want Garden Trading.

All in all I don't think there will be any money for shareholders.

Although its a sad state of affairs there are no shortage of brands out there so they won't missed so I don't expect the brands to go for much.

[blackhorse23] 14/11/2022 18:41

Debs yes it's sad to see employees are loosing job , also sad to see shareholders loosing money. I don't see any surplus here for any money left for shareholders after creditors ( shortfall for creditors ) now wait & see what administrator does , if anything left for shareholders would be good ?

[essentialinvestor] 14/11/2022 18:36

Several lifetimes, plus family.

[essentialinvestor] 14/11/2022 18:33

Tom J raised circa £40 million in the IPO
by cutting his stake.

While I'm sure it's disappointing, he is made for life.

[debsdowner] 14/11/2022 18:30

According to BBC Tom Joules hopes Joules can survive on a smaller scale with retructuring but time will tell after administrators scour books.

One thing is certain and I am 100% % certain there will be zero for shareholders.

[1madasafish] 14/11/2022 18:27

Not something to be celebrated !!!

[debsdowner] 14/11/2022 16:38

At over £2 Tom Joule was worth £50 million ooops.

Joules however djd hit a high of £3 a share his holding was worth circa £75 million what a shock,

[ukneonboy] 14/11/2022 16:30

IT'S NOT ALL BAD NEWS !!!
==========================



WELL, NOT FOR THE SHORT-SELLERS LIKE US, ANYWAY

222p down to ZERO, NOTHING, NADA, ZILCH, ZIP