Retailer Joules is mulling a CVA after warning that it may default on a bank loan at the end of this month.
The upmarket wellies and waterproofs store said it needed to raise a bridging loan to repay a £5m facility that falls due at the end of November. It has appealed to Barclays and its founder Tom Joule to secure short-term finance.
The bridging loan is needed to give it time to push ahead with a company voluntary arrangement to cut its rent bill.
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Including:
Mitsubishi Estates and Co-Re appoint Savills to help lease the development’s office space
Decision deferred on former National Institute of Agricultural Botany revamp
Developer has taken 10 storeys off proposals since first filing
Colliers appointed to lease 50,000 sq ft of office space in the Salford Quays development
