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Joules mulls insolvency procedure to stave off collapse – Sky News

Sept 29 (Reuters) – Joules (JOUL.L) is considering an insolvency procedure used by retailers to close loss-making stores and reduce rents, weeks after Next Plc (NXT.L) abandoned plans to inject funds into the British fashion retailer, Sky News reported on Thursday.

Shares of Joules dived nearly 33% after the report.

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Reporting by Shanima A in Bengaluru;
Editing by Vinay Dwivedi

Our Standards: The Thomson Reuters Trust Principles.

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