{"id":197917,"date":"2022-02-24T09:27:21","date_gmt":"2022-02-24T09:27:21","guid":{"rendered":"https:\/\/www.theindustry.fashion\/?p=197917"},"modified":"2022-02-24T20:22:43","modified_gmt":"2022-02-24T20:22:43","slug":"studio-retail-group-appoints-administrators","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/studio-retail-group-appoints-administrators\/","title":{"rendered":"Studio Retail Group appoints administrators"},"content":{"rendered":"
Studio Retail Group has formally appointed administrators Teneo, after issuing profit warnings and a request for a \u00a325 million bank loan was rejected.<\/strong><\/p>\n About 1,400 jobs have been put at risk after the online retail business, which was known as Findel until 2019, appointed administrators.<\/p>\n Last month, the Accrington-based company saw its shares plunge when it issued its second profit warning in two months after being hammered by transport delays and soaring shipping costs. The home shopping business said its cash was being heavily cut into as a result of the distorted levels of stock following the disruption.<\/p>\n