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Luxury British department store bought by Sports Direct’s Mike Ashley

Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleMike Ashley's Frasers Group has acquired Harvey Nichols following the luxury department store chain's collapse into administration, beating retail rival Next in a competitive auction process. The acquisition encompasses Harvey Nichols' complete estate of six UK stores situated in London's Knightsbridge, Manchester, Birmingham, Bristol, Leeds, and Edinburgh. The rescue deal follows warnings from Harvey Nichols in its latest financial accounts that it faced having to cease trading within a year without securing new investment. Frasers Group chief executive Michael Murray indicated that oversight of the turnaround will involve tough choices and may temporarily create a smaller business to establish long-term viability. The announcement coincided with Frasers Group reporting an 8.7 per cent increase in annual revenues to £5.33 billion, driven by international growth despite a 4.7 per cent decline in UK sports retail revenues. In fullSports Direct boss Mike Ashley buys Harvey NicholsMore bulletinsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in

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