Studio Retail, a British home shopping company, is set to have its financial statements investigated by a UK watchdog. The Financial Reporting Council (FRC) said it has commenced an investigation in relation to the audit conducted by Mazars LLP of the group’s financial statements for the 12-month period ended 26 March 2021. The accounting firm...
10 Oct 2022
Following its acquisition of the Studio Retail Group (SRG), Frasers Group has criticised the handling of the retailer's collapse, outlining key concerns in a statement that also called for a review of the UK corporate governance regime. The group, which has also been struck by past failures involving Debenhams and Goals, said, as a significant...
28 Feb 2022
Following its slippy descent into administration, it has been announced that Studio Retail has found a buyer. Mike Ashley’s Frasers Group has stepped up to the mark to acquire the digital retailer and other assets of the group. The takeover by Frasers Group, which was Studio Retail’s biggest shareholder, is part of the brand and property firm’s...
25 Feb 2022
Mike Ashley-backed Studio Retail has reportedly appointed administrators after its request for a short-term loan was declined by its bank. The online retailer is said to have teamed up with Teneo to handle the matter, according to a report by The Times. The publisher also noted that about 1,400 jobs, mostly based at its headquarters in...
24 Feb 2022
British firm Studio Retail has announced its intention to appoint administrators after it failed to receive a short-term loan of 25 million pounds from its lending banks. It closely follows a report from the firm two weeks ago stating that it had taken a hit from logistics issues throughout Christmas, issuing what was its second profit warning....
15 Feb 2022