A luxury fashion retailer that has faced multiple setbacks in recent years has entered administration, though all jobs have been secured following its sale. Jules B, operating a Jesmond boutique alongside its digital platform, has been purchased out of administration, preserving employment for all 25 staff members.
Earlier this month, the premises closed temporarily for a week following what appeared to be a ram raid incident. Two individuals have been detained in connection with the episode, which caused damage to the property and its protective shutters.
Administrators indicated that the company had encountered numerous financial challenges, including consequences from the Covid-19 pandemic. The firm entered into a Company Voluntary Arrangement in 2024, yet despite cost-reduction measures, the business proved unable to satisfy its continuing obligations.
The acquisition ensures the business will carry on operating from its Jesmond outlet and online platform.
During 2024, the company sustained substantial losses following a cyber incident that significantly hampered its trading operations. The firm negotiated arrangements with the majority of its creditors at that time, enabling continued operations.
Steven Ross and Allan Kelly of FRP Advisory were appointed as joint administrators to Jules B Limited last week and swiftly concluded the sale of the enterprise and its holdings. The business traces its origins to 1986 and maintains an established presence on Jesmond's Acorn Road.
Previously, it operated additional locations in Kendal and Harrogate, though its physical footprint contracted in recent years amid difficult trading circumstances.
Steven Ross, partner at FRP Advisory and joint administrator of Jules B Limited, said: "Jules B is a well-known premium fashion retailer with a long heritage and loyal customer base. Despite efforts to streamline the business and address historic challenges, ongoing pressures in the retail sector meant it was no longer financially sustainable in its current form.
"We're pleased to have secured a sale of the business and assets which protects 25 jobs and enables the brand to continue trading. We wish the purchaser every success as they take the business forward."
Newcastle-based law firm Mincoffs Solicitors LLP supported the administrators throughout the transaction.
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