Frasers Group acquires Harvey Nichols after retailer warned of collapse

Published Aug 15, 10:07 PM UTC

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Harvey Nichols, the historic British luxury department store chain founded in 1831, has been acquired by Mike Ashley's Frasers Group through a pre-pack administration on August 13, 2026. The retailer had been put up for sale in June 2026 by its owner Dickson Poon after years of financial losses. Harvey Nichols reported a £105 million loss after tax for the year ended March 29, 2025, with revenue falling from £204.8 million to £184.8 million. The company warned it could collapse within a year without new investment, citing weaker consumer demand, higher operating costs, online competition, and the end of tax-free shopping for tourists in the UK. Multiple potential buyers showed interest during the sale process, but Frasers Group emerged as the successful buyer, providing a lifeline for the struggling retailer.

Source

Yahoo FinanceWestern

Original headline: Historic retailer gets lifeline after warning it could collapse

Original language: EN-US