Frasers Group has acquired the Harvey Nichols department store chain
The British Frasers Group, which owns the Sports Direct chain of sporting goods stores, has acquired the Harvey Nichols chain of luxury department stores after the company was placed under administration. The terms of the deal have not been disclosed, according to The Guardian.
Harvey Nichols has 13 stores and 1,200 employees. Frasers Group stated that it is acquiring stores in London, Manchester, Birmingham, Leeds, and Edinburgh. Negotiations regarding the future of the Dublin store are ongoing, and franchise agreements for the chain’s overseas locations will remain in place.
The Harvey Nichols restaurant in London’s Oxo Tower is not included in the deal—it will be sold separately. Frasers Group noted that to ensure a sustainable future for the business, significant restructuring and the integration of Harvey Nichols into the group’s structure are necessary. The company plans to review its store network, organizational structure, operating model, and expenses.
For more breaking news, follow the UA.News Telegram channel.
Harvey Nichols operates large stores in London, Edinburgh, Birmingham, Leeds, and Manchester, as well as a smaller retail location in Bristol. Outside the UK, the brand has locations in Dublin, Riyadh, Dubai, Doha, Kuwait, and two locations in Hong Kong.
Frasers Group CEO Michael Murray stated that Harvey Nichols has significant potential but requires substantial changes. According to him, turning the company around will require difficult decisions, and in the short term, the business may need to downsize in order to become more sustainable in the future.
Harvey Nichols, founded in 1831 as a fabric store, has not turned a profit since the start of the COVID-19 pandemic, when restrictions reduced the flow of affluent foreign tourists. In its financial statements for the year ended March 29, 2025, the company reported a loss after tax of 105 million pounds following the write-off of intra-group loans. The company’s directors also warned that without new financing, it could run out of cash within the next year.
