Next says it will keep about 100 Joules stores open, but 19 will be closed with immediate effect.
Clothing chain Joules has been rescued from administration by retail giant Next and founder Tom Joule.However, 19 stores will be closed with immediate effect with the loss of 133 posts.
Under the £34m rescue deal, Next will take a 74% stake in the business, with Tom Joule owning the rest. Next chief executive Simon Wolfson said: "We are excited to see what can be achieved through the combination of Joules' exceptional product, marketing and brand building skills with Next's Total Platform infrastructure."Tom Joule, who founded Joules in 1989, said the deal would protect the future of the company for its "loyal customers, its employees and also for the town of Market Harborough, which have been so central to Joules' success".
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