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Daily Mirror
Daily Mirror
Business
Emma Munbodh

Mike Ashley buys online giant Studio out of administration in £27million deal

Mike Ashley Studio Teneo

Mike Ashley has snapped up online retailer Studio for £26.8million after it fell into administration this week.

Frasers Group’s acquisition means around 1,400 jobs will be saved, and thousands more pending orders will be fulfilled.

Studio collapsed into administration on Thursday and appointed Teneo to help find a buyer.

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