Studio Retail Group
A British home-shopping and online retail business selling electronics, furniture, homeware, gifts and related consumer goods.
Last updated August 31, 2026
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Overview
Studio Retail Group is a British home-shopping and online retail business whose consumer-facing operation is generally known as Studio. Its roots date to 1962, when the business was established under the name Fine Art Developments. The company began as a greeting-card business and subsequently developed a broader distance-retailing model built around catalogues and, later, digital commerce. The corporate group underwent several major changes in identity and scope. It separated its greeting-card operation in 1997 into Creative Publishing, which was acquired by Hallmark Cards in 1998. The remaining business adopted the name Findel plc in 2000. During the Findel period, the group owned or operated a diverse collection of businesses, including consumer e-commerce, healthcare supplies, education-related operations, household brands and sports retailing. Several of these activities were later sold, reflecting a gradual concentration on the Studio home-shopping business. Among the disposals were CWIO, Confetti.co.uk and I Want One of Those, which were sold to The Hut Group in 2010; the NRS healthcare division, sold to LDC in 2013; the Kleeneze business, sold to CVSL Inc. in 2015; and Kitbag, sold to Fanatics in 2016. The group also sold its Findel Education businesses in 2021. These transactions reduced the breadth of the former Findel portfolio and left Studio as the principal consumer-facing retail activity. In 2019, Findel announced that it would rename itself Studio Retail Group, with the new corporate name taking effect in July of that year. The Studio proposition combined catalogue shopping with online retail and offered products including consumer electronics, furniture, homeware, gifts and other household or lifestyle merchandise. The business also offered Studio Pay, a buy-now-pay-later facility that allowed eligible customers to spread payments over different terms. Credit and related financial services were provided by a Frasers Group financial-services entity rather than representing a standalone banking operation of Studio itself. The business experienced severe financial pressure in early 2022. After efforts to secure additional borrowing failed, Studio Retail Group announced its intention to appoint administrators, and its London Stock Exchange shares were suspended on 14 February 2022. Frasers Group subsequently purchased the operating assets out of administration for £26.8 million. The acquisition moved Studio from an independent listed corporate group into the Frasers Group portfolio. Following the acquisition, Studio continued as a retail brand and subsidiary within Frasers Group. The former Studio Pay proposition was later retired and folded into Frasers Plus. Paul Kendrick, who had become group chief executive after Phil Maudsley's retirement, stepped down in 2023 as the business was integrated into Frasers Group. Studio's current role is therefore best understood as a British value-oriented home-shopping and e-commerce brand operating within the wider Frasers Group rather than as a separately listed retail group.
History
Studio Retail Group developed from a British greeting-card and distance-shopping business established in 1962 as Fine Art Developments. The company went public in the early 1960s and initially operated in the greeting-card field. Its later development followed the pattern of many catalogue retailers: it expanded from a focused product category into a broader home-shopping assortment and used catalogues to reach households before adding online channels. A major structural change came in 1997, when the greeting-card business was separated into a company called Creative Publishing. Creative Publishing was acquired by Hallmark Cards in 1998. The remaining group changed its name to Findel plc in 2000. Under the Findel identity, the company assembled a varied group of consumer, healthcare, education and specialist retail operations. This created a diversified portfolio, but the group subsequently pursued a programme of disposals to simplify its structure and focus on its core retail activity. In 2010, Findel sold CWIO, Confetti.co.uk and I Want One of Those to The Hut Group. It disposed of the NRS healthcare division to LDC in 2013 and sold Kleeneze to CVSL Inc. in 2015. In February 2016, the group sold Kitbag, its online sports-retailing business, to Fanatics. Sports Direct had expressed interest in Kitbag and acquired an 18.9% stake in Findel, but it did not succeed in appointing a director. The Kitbag transaction nevertheless proceeded with Fanatics as purchaser. Findel appointed Phil Maudsley as group chief executive in April 2017. The company later sought to align its corporate identity with its main consumer retail operation. In June 2019, it announced that it would rename itself Studio Retail Group, and the change took effect in July. Studio operated through catalogue and online channels, selling electronics, furniture, homeware, gifts and other consumer products. Its customer proposition was supported by Studio Pay, a facility designed to let customers spread the cost of purchases across different payment periods. In April 2021, Studio sold its Findel Education businesses for £30 million. The disposal further narrowed the group's activities around Studio retail. Paul Kendrick, who had joined the company in 2016 as commercial and deputy managing director and became managing director in 2017, was appointed group chief executive in 2020. He succeeded Maudsley after Maudsley retired in March 2021. The company encountered a critical funding problem in February 2022. Options for obtaining additional borrowing failed, including a reported £25 million funding effort, and Studio announced its intention to appoint administrators. Trading in its London Stock Exchange shares was suspended on 14 February 2022. Frasers Group then purchased the business's assets out of administration for £26.8 million. This ended Studio Retail Group's role as an independent listed group and established it as a wholly owned Frasers Group business. After the acquisition, the Studio operation was integrated into Frasers Group. Studio Pay, whose credit and financial-services arrangements involved Frasers Group Financial Services Limited, was later retired and folded into Frasers Plus. Kendrick left Studio in 2023 following the integration. The surviving Studio business is therefore a British home-shopping and online retail brand within Frasers Group, rather than the diversified and separately listed Findel-era corporate group.
- 2023
Paul Kendrick leaves after integration
[1]Paul Kendrick stepped down after Studio had been integrated into Frasers Group.
- 2022
Administration and acquisition by Frasers Group
[1]Funding difficulties led to administration proceedings, after which Frasers Group acquired Studio's assets for £26.8 million.
- 2021
Findel Education businesses sold
[1]Studio sold its Findel Education businesses for £30 million.
- 2019
Findel becomes Studio Retail Group
[1]The corporate renaming to Studio Retail Group took effect in July.
- 2000
Corporate name changed to Findel plc
[1]The company adopted the Findel plc name.
- 1998
Creative Publishing acquired by Hallmark
[1]Hallmark Cards acquired Creative Publishing after its separation from the group.
- 1997
Greeting-card business spun off
[1]The greeting-card operation was separated into Creative Publishing.
- 1962
Business founded as Fine Art Developments
[1]The business that later became Studio Retail Group was established in Britain under the name Fine Art Developments and began as a greeting-card company.
Products and positioning
A value-oriented British home-shopping and online retail proposition offering a broad assortment of practical household, lifestyle and gift products through catalogue and digital channels.
E-commerce
Studio online retail
Studio's online retail operation offers a broad home-shopping assortment rather than concentrating on one specialist category. The range includes consumer electronics, furniture, homeware, gifts and other household or lifestyle products. Its value-oriented assortment reflects the business's catalogue-retailing heritage while using digital commerce as a principal customer channel. Following the 2022 acquisition, the Studio operation became part of Frasers Group.
Distance retail
Studio catalogue shopping
Catalogue shopping was a foundational part of Studio's operating model. The company used catalogues to present a wide selection of practical consumer products and gifts to customers, later complementing that channel with e-commerce. The catalogue format supported the brand's home-shopping identity and helped it serve customers beyond a conventional store network.
Buy now, pay later
Studio Pay
Studio Pay was a payment facility that allowed eligible customers to spread the cost of purchases over varied payment terms. The related credit service was provided by Frasers Group Financial Services Limited. Studio Pay was later retired and folded into Frasers Plus after Studio became part of Frasers Group.
Brand decisions
2022
Administration and asset sale to Frasers GroupOtherBackground
Studio was unable to secure additional borrowing and announced that it intended to appoint administrators. Its shares were suspended on 14 February 2022.
Action taken
The business entered administration proceedings and its assets were subsequently purchased by Frasers Group.
Aftermath
Studio continued as a Frasers Group-owned retail business, while the former listed corporate group ceased to operate as an independent public company.
Asset purchase consideration. £26.8 million (2022)
2021
Sale of Findel Education businessesM&ABackground
The group was reducing the breadth of its portfolio and concentrating more closely on the Studio retail operation.
Action taken
Studio sold its Findel Education businesses for £30 million.
Aftermath
The disposal left the business more focused on consumer home-shopping and online retail.
Sale consideration. £30 million (April 2021)
2019
Corporate rebrand from Findel to Studio Retail GroupStrategyBackground
The company had increasingly centred its identity on the Studio consumer retail operation after disposing of several other businesses.
Action taken
Findel announced a new corporate name, Studio Retail Group, which came into effect in July 2019.
Aftermath
The rebrand positioned Studio as the group's principal consumer-facing identity until the group entered administration and was acquired by Frasers Group.
Recent events
- Unconfirmed
Reported
Studio Retail partners with Poq to build mobile apps[2]
Studio Retail partnered with Poq, a software-as-a-service app platform, to help build its retail mobile apps.
Reported
Studio launches Studio WOW shopping app[2]
Studio launched its first mobile shopping app, Studio WOW, allowing UK Android and iOS users to shop through the app.
Sources2 sources
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