Richard Teatum, a businessman from Doncaster, has acquired further shares of the floundering Joules.
Teatum, who owns the automobile dealership Stoneacre Motor Group, increased his investment in the fashion retailer yummy mommy from 8.9 percent to 9.1 percent.
Following the announcement, shares in Joules climbed 12.6%, or 1.2p, to 10.7p.
Teatum stated, “I believe it is an excellent investment, as it has promise and the ability to advance.” I may still purchase a bit more.
A few weeks ago, he invested £900,000 in the business by purchasing a stake.
At the time, he stated that Joules was “massively undervalued” and a “great investment.”
He stated last night, “I’ve been to the headquarters and met them; I think it’s a wonderful setup.”
He stated that Joules has been harmed by rising inflation and is struggling amid a broader retail slowdown, but that management may “bring it around.”