Amidst challenges, Jules B, the premier fashion destination rooted in Newcastle, sets out on a transformative path to rejuvenate its brand. Renowned for its online presence and fortified by five physical stores in the North East, Jules B collaborates with KSA Group to navigate financial complexities, contemplating a Company Voluntary Arrangement (CVA) as a savvy alternative to administration.
The specifics of the potential CVA’s impact on Jules B’s stores, including potential closures or transitioning to turnover-based rent, are actively under discussion in ongoing negotiations with landlords. While outcomes remain fluid, co-founder and Managing Director, Julian Blades, hints at the potential for store closures if consensus with landlords proves elusive. However, both Julian and co-founder Rhona Blades underscore their unwavering commitment to the brand’s continuity and actively seek new investors.
This proposed revival plan comes in the wake of a challenging year marked by resilient trading amidst adversity and a disruptive cyberattack in September, causing a temporary setback to the brand’s online operations.
Julian Blades discloses that he and his wife stand as the largest creditors, being owed £1.2 million by Jules B Ltd. In a notable display of dedication to the brand’s resurgence, they voluntarily waive this amount as part of the restructuring process.
With a current workforce of 55 individuals, Jules B operates seamlessly from its central head office, warehouse, and additional storage space in Newcastle. Beyond financial restructuring, this visionary journey aims at rekindling the distinctive style that has captured the hearts of fashion enthusiasts. Stay connected as Jules B unfolds a new chapter in its illustrious fashion narrative, blending style and strategy for a triumphant resurgence.
