Favourite of Kate’s considers Joules bid: Fashion giant behind Princess of Wales’s choice Hobbs mulling over swoop on collapsed retailer
Favourite: The Princess of Wales is often seen in Hobbs clothes
The fashion giant behind the Princess of Wales’s favourite Hobbs is mulling over a swoop on collapsed retailer Joules.
South Africa’s The Foschini Group (TFG), which also owns Phase Eight and Whistles, is considering a bid to buy Joules out of administration.
Yummy mummy clothing retailer Joules went bust on Tuesday as it was unable to repay a bank loan due by the end of this month.
The collapse put its 1,600 staff and 130 stores at risk.
Kate is often seen in Hobbs clothes such as this stylish double-breasted navy coat and this has boosted the brand’s sales.
TFG was reportedly in talks with Joules about an investment for weeks before its collapse.
And sources told Sky News its UK arm TFG London is now weighing up a bid.
Administrators from Interpath Advisory are running the business through the key Christmas period while looking for a buyer.