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Accrington-based Studio Retail Group has been bought out of administration by Frasers Group for £26.8m.
Studio had been seeking but had failed to secure £25m in funding which it believed would help offload its surplus stockholding.
The company says its extra stock is in good quality, but requires additional working capital to sell through to its customers.
Management was then forced to appoint administrators to SRG and Studio Retail Limited, its wholly-owned subsidiary.
Frasers Group, led by retail entrepreneur Mike Ashley, completed the purchase saving more than 1,400 jobs.
Studio has been a largely successful operation since switching from catalogue-based sales, when it was known as Express Gifts, to e-commerce. The company recently reported having over two million active customers – a 79 per cent increase over the last five years.
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