Key facts
- Mike Ashley's Frasers Group is reportedly close to a rescue deal for Harvey Nichols.
- Harvey Nichols has warned it faces collapse without new investment.
- The company reported a significant loss for the year ending March 2025.
- Frasers Group is expected to provide capital to keep Harvey Nichols afloat.
Mike Ashley's Frasers Group is reportedly close to finalizing a rescue deal for the luxury department store chain Harvey Nichols. The company has issued warnings that it faces collapse if it does not secure new investment. Harvey Nichols reported a significant loss for the fiscal year ending March 2025. Frasers Group is expected to provide the capital needed to prevent the department store from failing. The potential deal comes as Harvey Nichols grapples with financial difficulties and seeks a lifeline to continue operations.