Studio Retail Share Discussion Threads

[mrblueface] 06/6/2022 15:44

Is that the same Claris from lambs to the slaughter PMSL

[mrblueface] 06/6/2022 15:43

BUY - BITCOIN / ETHEREUM / SOLANA READY FOR NEXT BULL RUN 2024

[mrblueface] 06/6/2022 14:20

SHAREHOLDERS LOST EVERYTHING IN THIS PMSL :)

[skindle] 20/3/2022 09:38

I hadn’t read this before. This is the RNS that Frasers released after acquiring the assets of Studio Retsil Limited. Our largest shareholders view of the conduct of the board of directors.

FRASERS GROUP PLC

("Frasers" or the "Company")

Acquisition of Studio Retail

Further to Frasers RNS today, 25 February 2022, announcing the acquisition of certain trade and assets of the Studio Retail Group ("SRG"), Frasers wishes to set out some key concerns regarding the demise of SRG as a listed business.



Frasers will always act when it considers it necessary to protect shareholder value such as in the past with the failure of Debenhams plc.



Frasers wishes to be absolutely clear that it has long advocated that SRG was in need of a strategic review to maximise/protect shareholder value. Frasers wrote to SRG conveying such a view in Autumn 2020. Although Frasers tried to remain a supportive shareholder it indicated to SRG management a number of concerns around areas such as accounting estimates and judgements and whether management were taking a sufficiently conservative view. This led to Frasers voting against the Chief Financial Officer's re-election in 2019 (albeit he was re-elected with a vote of 58.06% in favour).



SRG is another example of a business which has buried its head in the sand whilst the world around it changed. Furthermore, it is clear that the fundamentals of its business were, at best inadequately scrutinised by its board and/or advisors to the business, or at worst, deliberately concealed as the business entered its death spiral.



In the opinion of Frasers the public statements issued by SRG to the effect that a loan of £25m would have been sufficient to preserve the group as a going concern will prove to be a gross underestimation of the scale of the issues facing the business.



Frasers is of the view that a UK corporate governance regime that countenances sudden and unaccountable failure of businesses, viable one week, and irredeemably broken the next, entirely without sanction or censure of those involved, is clearly unfit for purpose and in need of urgent reform.



In the opinion of Frasers, if the regulation of business is to have any purpose at all it should be in ensuring that businesses and jobs do not simply disappear overnight, damaging lives, eroding shareholder value, and tarnishing the reputation of the UK business system as a whole.



Frasers does not see the failures of listed public companies such as Debenhams, Goals and SRG as isolated incidents but rather as manifestations of systematic governance failures and a lack of corporate and individual accountability.



Frasers believes that it should be an urgent priority of government to increase the meaningful regulation of UK business, including by fully investigating the collapse of ALL listed businesses, and imposing fines and/or criminal penalties on any individuals found to have been complicit in or responsible for any wrongdoing which contributed to their failure.



Frasers also believes that increased enforcement powers are not of themselves enough and that sufficient resource needs to be made available to the Financial Reporting Council/Audit Reporting and Governance Authority, and Financial Conduct Authority amongst others to properly police the regime and act decisively as a deterrent to others.

[skindle] 18/3/2022 08:39

Yes, nothing short of breath taking incompetence ! This so called board of directors who were suppposed to be protecting shareholder value/investment were remunerated to the tune of approximately £9,000 per day collectively to oversee this debacle. That is £9,000 of shareholders money. What a travesty !

[harry_the_dog] 16/3/2022 08:35

31/01/2022 Trading update

14/02/2022 Ceased trading

24/02/2022 Appointment of administrators

25/02/2022 Sold by administrators

[mrblueface] 14/3/2022 14:02

You lost everything lol get over it

[skindle] 11/3/2022 08:11

Many thanks for your thoughts Triskelion.

[triskelion] 10/3/2022 23:28

I'm just pasting without checking something I saw elsewhere: at least for those having suffered significant losses, is there any mileage in contacting:

Market Integrity Unit in the Market Oversight Directorate (MO) of the FCA

[e-mail]

- since the sudden announcement of working capital shortfall (31 January) followed so soon after the Half Year Report (25 November). Was there a false market?




Also, if I'd just dropped £60 grand I might also throw some more good money after bad in getting specialist legal advice stating whether there's any (at least theoretical) legal recourse. I've seen comment elsewhere basically saying the insolvency rules are paramount but if it were my money I wouldn't assume that without a formal advice. Anyway the value I see in getting advice is mainly that a negative opinion will at least help give psychological closure.

[pauleasye] 08/3/2022 15:05

she died 11 months ago, enough said.

[pauleasye] 08/3/2022 13:53

Of course… and don’t tell me, you shared this expensive bottle with your supermodel girlfriend on the French Riviera 😂

You should see if there’s treatment available under the NHS for mythomania.

[mrblueface] 08/3/2022 12:50

It was great and a lovely bottle, price out of your league. I will do the same every Friday now and raise a glass to everyone who has lost out in this PMSL. Cheers

[pauleasye] 08/3/2022 09:22

Hey congrats Blueface, you’ve hit the bigtime, drinking cheap carver on your own in a bedsit celebrating the misery of others. Must feel good, well done

[mrblueface] 04/3/2022 17:38

Just bought some Champagne, I will toast to all the investors who lost money in this tonight, cheers PMSL

[pauleasye] 04/3/2022 12:07

Sorry to ruin your pleasure at the thought of others losing money but I’m not an investor, I run an SME with whom Studio is a customer. I haven’t lost any money and had that been the case, I have credit insurance on the debt anyway.

Stop trolling these message boards, I have reported you and I encourage everyone else on here to do so too.

You're a pathetic little man

[excellentsoph] 03/3/2022 13:19

Hi guys. Just as an FYI. I received a corporate action notice this AM, which I phoned HL about. HL suggested the door was still open re shares and that depending on terms there might be a small conversion to FG shares as one of the options given its a merger with terms not yet defined.

Not necessarily the case but decision not been made or closed out and my shares will be moved out of ISA (not allowed if not on ftse) and into a normal share dealing acct frozen until action taken and decisions made. Like I say very unlikely but worth keeping an eye on corporate actions as mine said it would only auto transfer if I had a non ISA account with them.

[pauleasye] 02/3/2022 13:00

You obviously missed my last point……no one is interested in your opinion.

Do us all a favour, turn your PC off, get out of your bedsit and go and get a job.

[mrblueface] 02/3/2022 12:22

You are sad coming onto a share chat board for advice etc LOL. Have you never heard the saying do your own research PMSL

[pauleasye] 02/3/2022 11:13

I thank the people who helped me with my dilemma on this chat and as such continued to follow the trail of messages that followed.

Which quickly leads me onto “MR BLUEFACE” what is your motive with these messages? Is your life so sad that you get some kind out of kick goading people that have lost money in this company?

We all know though that these sad little pathetic keyboard warriors are the ones that in the real world wouldn’t say boo to a goose.

I’m sure I speak for most on this thread. rather than sending antagonising messages, why don’t you actually do something more constructive with your life. No one is interested in what you have to say.

[mrblueface] 28/2/2022 20:03

Maybe buy another shirt in Sports direct PMSL

[mrblueface] 28/2/2022 20:02

Pleased you lost your shirt LOL