Formerly |
|
---|---|
Company type | Subsidiary |
Studio, Studio Retail | |
Industry | Retail |
Founded | 1962 |
Headquarters | Accrington, Lancashire |
Area served | UK |
Products | |
Services | Studio Pay |
Revenue | £330.3 million (2023) |
£12.1 million (2023) | |
Number of employees | 2700+ |
Parent | Frasers Group |
Website |
Studio, (formally knows as Findel plc, [1] ) is a British home shopping business and is a wholly owned subsidy of the Frasers Group. Studio was founded in 1962 under the name "Fine Art Developments".
It operates online and through catalogues and currently sells electronics, furniture, homeware and gifts. Studio also offer a buy now, pay later service called Studio Pay.
In 2022, Studio was purchased out of administration by Frasers Group for £26.8 million. [2]
Findel started as a greeting card company and went public in the early 1960s under the name "Fine Art Developments." [3] It spun off its greeting card business in 1997 as a separate company called "Creative Publishing", [4] which was subsequently acquired by Hallmark Cards in 1998. [5] The company changed its name to "Findel plc" in 2000 and then to Studio Retail Group plc in 2019. [6]
It was previously listed on the London Stock Exchange between the early 1960's to 2022 before the company fell into administration and shares were suspended on 14 February 2022 when it announced its intention to appoint administrators. [3]
In August 2010, Findel sold CWIO, Confetti.co.uk and I Want One of Those (IWOOT) to The Hut Group. [7]
In April 2013, Findel sold its healthcare division, NRS, to LDC, and in March 2015 Findel sold its Kleeneze business to CVSL Inc. [8]
In February 2016, Findel sold its online sports retailing business, Kitbag, to the leading US provider of licensed sports apparel and merchandise, Fanatics, Inc., a snub to Mike Ashley & Sports Direct who had expressed interest in the brand. Sports Direct acquired an 18.9% share in Findel but was unsuccessful in appointing a director. [9]
In April 2017, Findel appointed Phil Maudsley as group CEO. [10]
In June 2019, Findel announced plans to rename itself as Studio Retail Group, and this change came into effect in July. [11]
In April 2021 Studio sold the Findel Education businesses for £30 million. [12]
In February 2022, Studio announced its intention to appoint administrators because options to secure additional borrowing had failed, leaving it insolvent. [13] Its shares are currently suspended on the London Stock Exchange.
In February 2022, Studio Retail Group announced plans to call in administrators after a £25 million funding bid failed. [14] The company was then purchased by Frasers Group for £26.8 million. [2]
Studio Pay is a buy now, pay later service allowing customers to spread the cost of their purchase over varied payment terms. The service and credit is provided by Frasers Group Financial Services Limited a part of the Frasers Group. [15]
Studio Pay can be used with retailers such as Sports Direct, House of Fraser, USC, Flannels.
In 2020, Studio Retail Group PLC nominated Paul Kendrick as the CEO of the Group. He took over from the previous CEO, Phil Maudsley, when he retired in March 2021. [16]
Kendrick joined the company as Studio Retail's commercial and deputy managing director in May 2016 before being promoted to managing director in April 2017. In December 2019, he was appointed to the company's board of directors. [17]
Kendrick stepped down from Studio in 2023 after the business was integrated into Frasers Group following its acquisition in 2022
Kingfisher plc is a British multinational retailing company headquartered in London, England.
Aviva plc is a British multinational insurance company headquartered in London, England. It has about 18 million customers across its core markets of the United Kingdom, Ireland and Canada. In the United Kingdom, Aviva is the largest general insurer and a leading life and pensions provider. Aviva is also the second largest general insurer in Canada.
Future plc is a British publishing company. It was started in 1985 by Chris Anderson. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
British Home Stores, commonly abbreviated to BHS and latterly legally styled BHS Ltd, was a British department store chain, primarily selling clothing and household items. In its later years, the company began to expand into furniture, electronics, entertainment, convenience groceries and fragrance and beauty products.
Game Retail Limited is a British video game retailer, owned by Frasers Group since June 2019.
Kleeneze is a British homeware company operating throughout the United Kingdom providing everyday laundry and cleaning staples and appliances, to UK retailers. Founded in 1923 in Hanham, Bristol, it is now owned by Manchester-based brands house Ultimate Products, as part of their wider portfolio of homeware brands.
House of Fraser and Frasers are a British department store chain with 29 locations across the United Kingdom, part of Frasers Group. It was established in Glasgow, Scotland in 1849 as Arthur and Fraser. By 1891, it was known as Fraser & Sons. The company grew steadily during the early 20th century, and after the Second World War a large number of acquisitions transformed the company into a national chain.
Mothercare plc is a British retailer that specialises in products for expectant mothers and in general merchandise for children up to eight years of age. It is listed on the London Stock Exchange and is a constituent of the FTSE SmallCap Index.
M&G plc is a global investment manager headquartered in the City of London. Since its de-merger from Prudential plc, it has been listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
JD Sports Fashion plc, commonly known as JD Sports, JD or JD Group is a British sports-fashion retail company based in Bury, Greater Manchester, England. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. The Pentland Group owns 55% of the company.
European Home Retail plc (EHR) was a listed UK company, operating in home retail. Though registered in Swindon, Wiltshire, its head office was based in Warmley, Bristol. On 13 October 2006, it was announced EHR and its subsidiary Farepak had gone into administration.
Frasers Group plc is a British retail, sport and intellectual property group, named after its ownership of the department store chain House of Fraser.
I Want One of Those is an online retailer of gadgets, toys, clothing and homeware. It was acquired by THG plc from Findel Group in 2010. In July 2023, THG confirmed the sale of its OnDemand division to its existing leadership team, with financial backing from investment firm Gordon Brothers.
Connaught plc was a company in the United Kingdom, operating in the social housing, public sector and compliance markets. A constituent of the FTSE 250 Index, it went into administration in October 2010.
THG plc, formerly The Hut Group, is a British e-commerce retail company headquartered at Manchester Airport, England. It sells own-brand and third-party cosmetics, dietary supplements and luxury goods online. It provides an end-to-end e-commerce service to third parties through its Ingenuity division. As of 2023, the company operates 16 fulfilment centres worldwide.
Andrew Edward Anson is a British businessman primarily known for his work in the sports and media industries. He is the CEO of the British Olympic Association and chairman of Lancashire Cricket Club. Prior to joining, Anson was president of Fanatics International, where he spent five-and-a-half years.
Kitbag Ltd. is an English sports retailer.
William Grimsey is an English businessman who has specialised in the food and DIY sectors, most notably at Wickes, Iceland, and Focus (DIY).
Currys plc is a British multinational electrical and telecommunications retailer and services company headquartered in London, England. It was formed on 7 August 2014 by the merger of Dixons Retail and Carphone Warehouse Group. It is listed on the London Stock Exchange, and is a constituent of the FTSE 250 Index.
Secure Trust Bank is a British retail and commercial banking group listed on the London Stock Exchange, where it is a constituent of the FTSE SmallCap Index.