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Chronicle Live
Chronicle Live
National
Catherine Furze

Mike Ashley's Frasers Group buys struggling online retailer Studio

Newcastle United's former owner Mike Ashley has saved online retailer Studio from administrators.

The retailer, which has 2.5 million customers, has been bought by Ashley's Frasers Group for a reported £100m.

Mike Ashley’s company formerly held a 28.9% stake in Studio Retail Group PLC, which has gone into administration, but it has now acquired control of the subsidiary company, Studio Retail Limited.

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