Key facts
- Frasers Group has acquired Harvey Nichols.
- Harvey Nichols was placed into administration.
- The acquisition was for an undisclosed sum.
- The deal includes most of Harvey Nichols' stores.
- The deal includes Harvey Nichols' online business.
- Frasers Group plans significant restructuring.
- Mike Ashley leads Frasers Group.
Mike Ashley's Frasers Group has successfully acquired the luxury department store chain Harvey Nichols. The purchase was made out of administration for an undisclosed sum, occurring just days after the retailer entered that process. The deal encompasses most of Harvey Nichols' physical store locations and its online business. Frasers Group has indicated plans for significant restructuring of the acquired assets. The acquisition marks a swift move by Frasers Group to integrate another high-profile retail brand into its portfolio.