Frasers Group has launched redundancy consultation with over 160 warehouse staff at Studio Retail's Accrington site in Lancashire due to a lack of sales, Drapers understands.
Studio Retail has posted pre-tax profit of £12.1m in the 53 weeks to 30 April 2023 following Frasers Group's takeover, compared with a loss before tax of £75.7m in the previous year.
Following today’s release of the Frasers Group’s figures for the year ending 30 April 2023; Tash Van Boxel, retail analyst at GlobalData, a leading data and