Studio Retail MD steps down a year after Frasers Group rescue
Managing Director of Studio Retail, Paul Kendrick, has stepped down from his role, one year after Mike Ashley’s Frasers Group saved the company.
David Twigg, Studio Retail’s Financial Services Director, will be stepping in as Managing Director of the company in Paul Kendrick’s place. Twigg was appointed as the company's FD in 2017 after holding executive roles for ThinkSmart and Home Retail Group.
Kendrick joined the online retailer in May 2016 as Commercial Director and Deputy Managing Director but was promoted shortly after to Managing Director in April 2017.
Before his seven-year stint at Studio Retail, he held the Marketing and Multi-Channel Director position at Bonmarche, as well as executive roles at Co-op and Tui.
Document filings that were logged at the company's house on 1 February confirmed the reshuffle.
Frasers Group acquired Studio Retail Limited and certain other assets of Studio Retail Group for £26.8 million last February, saving approximately 1,500 jobs.
Studio Retail Group appointed administrators Teneo after issuing profit warnings and a request for a £25 million bank loan was rejected. The home shopping business said its cash was being heavily cut into as a result of the distorted levels of stock following shipping disruption.