Job losses feared ahead of Frasers’ potential Studio Retail merger

Employees of Studio Retail are understood to be anticipating job losses ahead of a potential merger between the company and two others owned by Mike Ashley’s Frasers Group.

It is believed concerns had been sparked by a letter from Paul Kendrick, the chief executive of Studio Retail, which Frasers had rescued from administration in a one pound deal early 2022.

According to LancsLive, which had initially reported the news, the letter detailed information about “significant cost efficiencies”, with the move to allow Studio Retail to “benefit from the longer-term group investments in technology by working on a shared platform”.

The media outlet said that the proposal would possibly involve transferring all the business operations of I Saw It First and Missguided, two e-commerce fashion platforms Frasers acquired last year, to a single structure under Studio Retail.

Staff were understood to have been briefed on the matter in a consultation meeting on July 17.

In response, LancsLive said that Conservative MP Sara Britcliffe, Labour MP Graham Jones and union USDAW are stepping in to discuss the firm’s future and any potential job loss in the area of Hyndburn, where the company is headquartered.

Britcliffe said in a statement: “I have worked closely with Studio Retail to protect jobs in Hyndburn in the past. I have been in touch with Studio’s CEO to ascertain how this will impact Hyndburn. As always, I will do my utmost to protect jobs here at home.”