Mike Ashley the Sport Direct tycoon indicated his interest in snapping-up Harvey Nichols last week - now he has announced his Frasers Group has bought the famous department store chain

Mike Ashley's first swing at Britain's luxury market didn't go well in 2002 when he bought Britain's upmarket sports emporium Lillywhite's.

Mike Ashley’s Frasers Group has struck a deal to acquire struggling luxury department store Harvey Nichols.