Fashion and retail giant Frasers Group is said to have launched a redundancy consultation with warehouse staff at Studio Retail’s Accrington location in Lancashire.
A total of 164 warehouse employees are believed to be impacted by the move, which is being carried out in light of a lack of sales, according to Drapers.
Those affected derive from varying departments and are believed to include the logistics director and operations manager, with the number of employees at the site ultimately set to reduce from 258 to 94.
The media outlet further noted that a next step for Studio Retail could be in the integration of its Cheshire based operations into the Accrington facility, resulting in the closure of the Widnes warehouse, impacting 13 people.
It comes as part of a wider restructuring at Studio Retail which has been ongoing since Frasers Group acquired the firm in February 2022 following its collapse into administration.
Despite lack of sales being cited as the reason for the latest round of job cuts, earlier this year Studio Retail had appeared to be back on track, returning to black for the first time since Frasers’ takeover.
The company, which has since changed its name to Frasers Group Financial Services Limited (FGFS), reported its full year results for the period ended April 30, 2023, when it saw its profits hit 12.5 million pounds, a significant upheaval from the prior 44.5 million pound loss it reported in 2022.
