Studio Retail CEO steps down

The chief executive officer of Studio Retail has stepped down nearly one year on from taking on the role.

According to documents filed with Companies House, Paul Kendrick has left the position after initially taking on the role permanently in March 2021.

Kendrick first joined the company in May 2016 as commercial and deputy managing director, before being promoted to managing director in 2017.

He was then appointed to the Studio board in December 2019.

When transitioning to CEO, Kendrick succeeded Phil Maudsley as part of the company’s succession plan.

Prior to Studio, he held the position of marketing and e-commerce director at Bonmarche and had also served in various senior roles at N Brown Group.

CFO promoted to managing director

The news of his departure comes almost a year after Studio Retail was rescued from administration by Mike Ashley’s Frasers Group.

Since the acquisition, the group, which also owns the likes of Sports Direct and House of Fraser, criticised the handling of the retailer’s collapse, noting that Studio’s appeal for a 25 million dollar loan was a “gross underestimation” of the scale of its issues.

From October 2022, Studio was placed under investigation by the Financial Reporting Council (FRC) in relation to an audit of the group’s financial statements conducted by Mazars LLP.

Filings at the Companies House further stated that Studio Retail’s finance director David Twigg has been promoted to managing director.