Frasers Group: Mike Ashley’s Frasers Group is reportedly planning to merge Studio Retail, which it acquired in February 2022, with etail stablemates Missguided and I Saw It First, Retail Gazette and LancsLive report.
This is based on an internal memo allegedly sent by Studio Retail chief executive Paul Kendrick to employees, in which he outlined Frasers Group’s plans to merge the businesses for “significant cost efficiencies”.
In late July, Drapers exclusively reported that Frasers Group placed more than 100 jobs at risk of redundancy across Missguided, I Saw It First and Studio Retail in its Manchester office.
Salvatore Ferragamo: Salvatore Ferragamo CFO Alessandro Corsi, who is set to exit the Italian luxury footwear brand on 30 September, has been named as in the incoming CEO of Florence-based fashion accessories components manufacturer MinervaHub, Women’s Wear Daily reports.
Corsi will replace current MinervaHub chairman and CEO Matteo Marzotto.
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High street closures: Greeting cards retailer Clintons has appointed restructuring firm FRP Advisory and is looking to close 38 out of its 179 shops across the UK, The Times has reported.
The news comes days after homeware retailer Wilko filing a notice of intention to appoint administrators.
