Clothing brands are increasingly ‘cautious’ of dealing with Harvey Nichols after its takeover by Mike Ashley’s Frasers Group, as they say they could be left out of pocket due to late payments.
One fashion boss, whose clothes were previously stocked by the iconic department store chain, told The Mail on Sunday that many had been stung by the collapse of website Matches Fashion, which the tycoon took over in 2023.
Matches went under the following year owing £210million to some 541 customers, fashion companies and others.
Among those left out of pocket were Burberry, Gucci, Prada and Swedish name Toteme, which received only pennies on the pound of their debts.
‘Frasers screwed so many brands when it abruptly closed Matches. So, I think any brand would be cautious with anyone associated with that group, at the very least requiring stricter payment terms,’ the clothing boss said.
