THE RETAIL BULLETIN - The home of retail news
Lest we forget
Click here
Home Page
News Categories
Commentary
CX
Department Stores
Electricals and Tech
Entertainment
Fashion
Food and Drink
General Merchandise
Grocery
Health and Beauty
Home and DIY
Interviews
People Matter
Retail Business Strategy
Property
Retail Solutions
Electricals & Technology
Sports and Leisure
Christmas Ads
Shopping Centres, High Streets & Retail Parks
Uncategorized
Retail Events
People in Retail Awards 2024
THE Retail Conference
Retail Ecom North
Retail HR North 2025
Retail Omnichannel Futures 2025
Retail HR Central 2025
The Future of The High Street 2025
Retail Ecom Central
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Joules adds £15 million to existing revolving credit facility

Joules has confirmed that it has added an extra £15 million to its existing revolving credit facility with Barclays Bank. The news follows the lifestyle clothing… View Article

FASHION RETAIL NEWS UK

Joules adds £15 million to existing revolving credit facility

Joules has confirmed that it has added an extra £15 million to its existing revolving credit facility with Barclays Bank.

The news follows the lifestyle clothing retailer’s recent equity placing where it raised £15 million.

The company has previously announced that it has introduced a range of measures to conserve cash during the coronavirus crisis and now believes it has sufficient liquidity headroom to manage a Covid-19 related downside scenario.

Nick Jones, Joules chief executive, said: “The completion of the additional facility with Barclays Bank provides Joules with further liquidity to navigate these challenging times and positions the business to continue to progress its strategic growth plans following the current period of significant disruption.”

Giving an update on current trading, Joules said customer traffic and demand on its ecommerce site has been running ahead of the expectations set when non-essential stores closed and the UK entered lockdown

Jones added: “Our ecommerce sales over recent weeks continue to demonstrate the strength of the Joules brand and the loyalty of our customer base. We know that further challenging times are ahead, but we are confident that, with the continued support of our colleagues, customers and the wider Joules community of suppliers and partners, Joules is well positioned to manage these challenges.”

Joules has also announced that its recently launched ‘Rainbow Edit’ collection has so far raised nearly £35,000 to support NHS Charities Together. In addition, the company has been able to utilise its supply chain to support local Leicestershire health services through the  donation of around 50,000 masks.

Subscribe For Retail News