Studio tumbles into administration after failing to land £25m lifeline

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Studio Retail Group has stated its intention to appoint administrators after it failed to secure a £25m loan.

Earlier in February, the online retailer issued a profit warning – its second in two months.

It stated that profits would be lower than market expectations due to supply chain challenges and transport delays, adding that demand in January had been “relatively subdued with some margin erosion as we cleared some seasonal stock that could not be carried forward”. 

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