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Fraser Group buys Accrington based Studio Retail

Date: 25 February 2022 Mike Ashley’s Fraser Group has bought Studio Retail out of administration for £26.8m, saving almost 1,500 jobs.

Studio Retail, which sells a mix of cut-price own-brand products, signalled their intention to appoint administrators after it failed to secure an urgent £25m loan.
 
Usdaw Area Organiser Julia Baldwin said: “Usdaw are pleased that Studio Retail has been able to secure a future for the business. It’s been a very difficult time for our members. Despite this, members have continued to work hard over the last two weeks and have supported the business with its plans to secure investment.

“I want to thank reps across the sites who have worked hard to ensure they represented their members’ concerns directly to the business and regularly updated their members.

“We look forward to working with Studio Retail Group in the future to ensure the business goes from strength and provides long-term, stable employment.”  
 

Notes for editors:
 
Usdaw (Union of Shop, Distributive and Allied Workers) is the UK's fifth biggest trade union with over 360,000 members. Most Usdaw members work in the retail sector, but the union also has many members in transport, distribution, food manufacturing, chemical industry and other trades.

For Usdaw press releases visit: http://www.usdaw.org.uk/news and you can follow us on Twitter @UsdawUnion

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The official website of the Union of Shop, Distributive and Allied Workers