THE RETAIL BULLETIN - The home of retail news
Click here
Home Page
News Categories
Commentary
CX
Department Stores
Desert Island Stores
Electricals and Tech
Entertainment
Fashion
Food and Drink
General Merchandise
Grocery
Health and Beauty
Home and DIY
Interviews
People Matter
Retail Business Strategy
Property
Retail Solutions
Electricals & Technology
Sports and Leisure
TRB conference review
Christmas Ads
Shopping Centres, High Streets & Retail Parks
Uncategorized
Retail Events
People in Retail Awards 2024
Retail Ecom North
Retail HR North 2025
Retail Omnichannel Futures 2025
Retail HR Central 2025
The Future of The High Street 2025
Retail Ecom Central
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Frasers Group acquires Studio Retail

Mike Ashley’s Frasers Group has acquired Studio Retail in a £26.8 million deal following the online retailer’s appointment of administrators. Yesterday, Studio announced that Daniel Butters… View Article

GENERAL MERCHANDISE NEWS

Frasers Group acquires Studio Retail

Mike Ashley’s Frasers Group has acquired Studio Retail in a £26.8 million deal following the online retailer’s appointment of administrators.

Yesterday, Studio announced that Daniel Butters and Daniel Smith of Teneo Financial Advisory had been named as joint administrators and and were in advanced discussions regarding an accelerated M&A process for the business and assets of the company, including its main operating subsidiary, Studio Retail.

The move followed an announcement earlier this month in which Studio said it intended to appoint administrators after it failed to secure an agreement with its lenders regarding a working capital funding need.

In a statement today, the company said it has sold its shareholding in Studio Retail and certain other assets to Frasers Group, its biggest shareholder. The sale has included the release of the company from its liabilities to its secured creditors under its revolving credit and ancillary facilities. 

Studio said: “The administrators are of the opinion that the transaction was in the best interests of the company’s creditors as a whole.”

While Studio Retail itself was not in administration, it had temporarily ceased taking orders. The transaction will allow trading operations to resume and will protect the jobs of over 1,500 employees.

Subscribe For Retail News