Studio Retail is no longer for sale. The company has received plenty of interest in the business, but said its recent strong trading suggests that it can create greater value for shareholders as a pureplay retailer.
Value retailer Studio Retail said its new CEO is in place. Paul Kendrick has been appointed to the top post as of now, replacing Phil Maudsley who retired and stepped down as a director of the company at the same time.
Findel Plc said on Monday it had received a letter of support from its second-largest shareholder Schroders Investment Management Ltd for its rejection of a buyout offer from Mike Ashley's Sports Direct.
Britain’s Findel on Monday rejected a takeover approach from the country’s largest sport goods retailer Sports Direct, saying the bid significantly undervalued the online retail and education business.
Branded-but-price-conscious fashion and beauty is of growing importance in the UK and Findel is reaping the rewards as its Studio operation expands and sees potential for the future too, despite slowing growth.