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Administrators for Joules will shut 19 shops today after the fashion brand was bought in a rescue deal by retailer Next and founder Tom Joule.
Next will own 74% of a newly formed company with the remaining 26% owned by Joule. It will keep around 100 of the current 124 Joules stores in the UK and
A fashion brand with two outlets in York has been saved.
The deal will see Next own a 74 stake in the business, with Tom Joule owning the remaining 26.
Earlier today (1 December), Next announced that it has bought Joules out of administration for £34m, in partnership with the brand's founder Tom Joule.