Fashion and homeware retailer TFG is open to buying retail companies coming up for sale in Britain. Moneyweb PhaseEight Joules
South African fashion and homeware retailer TFG is open to buying retail companies coming up for sale in Britain, its chief executive said on Wednesday, at a time when clothing retailer Joules Group has gone into administration. CEO Anthony Thunström declined to comment on reports that the owner of British brands such as Phase Eight and Hobbs is sealing a rescue deal with Joules, but evinced interest in being part of the retail consolidation taking place in the UK.
” Joules became the latest retail collapse in Britain after its finances, profitability and cash generation came under pressure amid a cost-of-living crisis that has pinched consumer spending. Earlier this month, online furniture seller Made.com collapsed into administration. Retailer Next ended up buying the Made.com brand. Thunström said if the cost-of-living crisis carries on, “you’re going to find that there will be a lot of attractive brands available.
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