Studio Retail’s trading arm is to be split off from its financial services division. Frasers Group will rebrand the financial services arm as Frasers Group Financial Services Limited, in order to then support the wider Frasers Group. The new FGFSL team will remain at Studio’s Clayton-le-Moors base.
Studio Retail said that the expansion plans for the new FGFSL will create in excess of 100 new jobs. It added: “Although now distinctly separate businesses, the relationship between SRTL and FGFSL will continue and they remain inter-related to deliver the best outcomes for customers, and economies of scale.”
David Twigg, managing director of Frasers Group Financial Services, said: “This is more good news, and shows real investment from the Frasers Group in the long term future of our financial services business. The separation of the two businesses is a new strategic direction for us, and allows both businesses to be developed in different ways.
“We have vacancies available now, and a big expansion plan, so it’s an exciting time for us to put plans in place and look to the future.”
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