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Studio agrees sale of education business

Studio agrees sale of education business

Studio Retail Group (STU) - known until recently as Findel - has announced the sale of its education business to the Yorkshire Purchasing Organisation, led by Wakefield City Council. The group is expected to get £50m in the deal, which will go towards funding the pension scheme and making payments towards the group’s credit facility. The reduced working capital demands also mean the group will accelerate investment in the studio business.

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