Administrators for high street fashion retailer Joules will shut 19 shops today after it was bought in a rescue deal by Next and founder Tom Joule.

Next said that it plans to continue to run around 100 of Joules’ 124 stores in a deal which will see Next own a 74pc stake in the business, with Mr Joule owning the remaining 26pc share.

Joules drafted in administrators last month after failing to secure emergency funding following a surge in costs and slowdown in customer demand.

Administrators at Interpath Advisory have confirmed that 133 redundancies have been made as a result of Joules’ rescue deal.

The insolvency specialists will close 19 of Joules’ stores on Thursday (December 1) after they were not bought as part of the deal.

Around 100 stores were saved, with approximately 1,450 employees across these stores and head office transferring to the buyers.

The retailer has stores across the country and around 1,600 members of staff.

Southwold Little Joule, in East Street, has been named as one of the 19 shops which are due to close.

Joules also has branches in Norwich, Holt, Burnham Market and Wells-next-the-Sea.

Mr Joule said the business needs to “recapture” the imagination of its customers again after it was announced he was teaming up with Next in a rescue deal for the clothes retailer.

Mr Joule said: "After three years away from the operational side, I’m truly looking forward to inspiring teams with clear direction to excite and recapture the imagination of the customer again.

"Our customers have always trusted us to lead, not follow, with products that reflect their lifestyle.

"It’s important that we live up to the high standards they desire in design, quality and, with Next’s Total Platform delivery and customer support proposition, the service they expect.

"I’m so pleased that we have been able to strike a deal that protects the future of the company for all its loyal customers, its employees and also for the town of Market Harborough, which have been so central to Joules’ success."

The other branches due to close are: Carmarthen, Cheltenham, Chichester, Edinburgh, Exeter, Gateshead, Lyme Regis, Newbury, Northcote Road, Oxford, Peak Village, Peterborough, Reigate, Salcombe Fore Street, Sherborne, Southwold Little Joule, St Davids, Waterloo and Watford.