Following the acquisition of Studio Retail Ltd, Frasers has reinforced its commitment to the Hyndburn area by purchasing the 76,000 sq ft office property in Clayton Le Moors which is currently used for Studio Retail's administrative and operational functions.
The office sits alongside the flagship warehouse in Church, which was also acquired by Frasers as part of the initial agreement. By acquiring the additional office space, Frasers will be able to optimise the site, creating better facilities and identifying efficiencies across the broader location.
Alongside the office purchase, Frasers will also invest in creating a purpose-built photography and video studio at the Church warehouse building. This will allow the team to continue creating imagery assets for products on-site with improved facilities.
Frasers Group is one of Europe's leading retailers, providing consumers with access to the world's best sports, premium and luxury brands. The Group is made up of Sports Direct, FLANNELS, House of Fraser, Jack Wills and Evans Cycles, among others. Following the acquisition of Studio Retail in 2022, Frasers has benefitted from Studio's expertise in offering flexible payment options, creating opportunities to expand the offer across the broader brand ecosystem within the Group.
Paul Kendrick, chief executive officer of Studio Retail Limited commented: "The purchase of the office building in Clayton is great news for our long-term future in Hyndburn, and will continue to reassure stakeholders the Frasers Group is investing in our future in Hyndburn.
"There are already over 650 colleagues working in that building, and we can further develop this as we grow. It's great news for our workforce and shows that the Frasers Group deal has brought opportunity to Hyndburn."
Sara Britcliffe, MP for Hyndburn and Haslingden, added: "This is fantastic news for Hyndburn - as one of the borough's largest employers, it's been really important to me to see these exciting developments and the security of jobs. There is also growth potential, with opportunities across the Frasers Group, which can only bring more good news."
Studio Retail (studio.co.uk) is a digital retailer with around 1.8 million customers each year, selling a great value essentials and top brand names at amazing prices across clothing and home product ranges. It also provides flexible payment options allowing you to pay now, or spread the payments.
WATCH THE VIDEO: https://youtu.be/8Qu_uQf12h4