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Retail & Consumer

Studio Retail to create 30 jobs as owner Frasers Group makes major purchase

Studio Retail was bought out of administration for £1 last year after racking up debts of over £80m

Studio Retail's office in Clayton-le-Moors, Lancashire(Image: Studio Retail)

Studio Retail is to create 30 jobs in its first major expansion drive since being rescued by Mike Ashley's Frasers Group in February 2022.

The Lancashire-headquartered company is adding the new roles at its Clayton-le-Moors base.

The office houses Studio Retail's administrative and operational functions and was recently purchased outright by the Frasers Group.

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The move comes after BusinessLive reported Studio Retail's CEO had recently stepped down.

The company was bought out of administration by Mike Ashley's Frasers Group towards the end of February 2022.

It was later revealed that the company owed more than £80m when it collapsed and was bought for just £1.

New managing director David Twigg said: "We are continuing to invest in our future in Hyndburn and the addition of 30 new colleagues shows we are in a period of significant growth and transformation.