Joules to call in administrators, as business confidence hits 13-year low – business live

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Joules shares suspended

Trading in Joules shares have been suspended at the company’s request, ‘pending further clarification of the Company’s financial position’, says the London Stock Exchange.

Joules shares have fallen 93% this year, from around 140p in January to 9p at the end of last week.

Joules share price Photograph: Joules

Updated at 02.41 EST

Jobs at risk

Over 1,000 jobs are at risk at Joules and the Garden Trading Company, as it prepares to appoint administrators.

The company is also asking for its shares to be suspended.

Sky News reports:

Joules Group, which has around 1,700 staff, revealed it was to file a notice of intention to appoint administrators and had requested the suspension of trading in the company’s shares.

Updated at 02.40 EST

Introduction: Joules intends to appoint administrators after rescue talks fail

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This article was written by Graeme Wearden and originally published on www.theguardian.com