Sports Direct boss Mike Ashley buys Harvey Nichols in rescue deal

Harvey Nichols warned in its latest accounts that it would need to ‘cease trading’ within a year if it failed to secure fresh funding

Sports Direct owner acquires majority of upmarket retailer’s sites from the administrators Business live – latest updates The owner of Sports Direct has bought Harvey Nichols out of administration after the upmarket department store chain warned it could run out of money if it did not find new funding. Mike Ashley’s

The move comes after an auction process for Harvey Nichols which saw Frasers battle retail rival Next to take control of the brand

It comes after an auction process saw Sports Direct owner Frasers battle retail rival Next to take control of the stores

The department store made famous by sitcom Absolutely Fabulous had warned it would cease trading.

The deal includes the brand’s estate of six stores in Knightsbridge London, Manchester, Birmingham, Bristol, Leeds and Edinburgh.

It comes after an auction process for Harvey Nichols which saw Frasers battle retail rival Next to take control of the brand.

It comes after an auction process for Harvey Nichols which saw Frasers battle retail rival Next to take control of the brand.

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

The 195-year-old department store will join Frasers' stable of brands, including Sports Direct, Flannels, House of Fraser and Evans Cycles.

The luxury department store chain has been saved by former Newcastle United owner Mike Ashley, after adding it to his portfolio as part of the Frashers Group

Retailer purchases department store through pre-pack administration deal

The 195-year-old department store will join Frasers' stable of brands, including Sports Direct, Flannels, House of Fraser and Evans Cycles.

Mike Ashley’s Frasers Group has struck a deal to acquire struggling luxury department store Harvey Nichols.  The group, which also owns Sports Direct and Flannels, will acquire each of the chains stores, excluding the site in Dublin, along with its online business and existing stock.  Frasers’ acquisition of Harvey Nic

HARVEY Nichols has been rescued from the brink of collapse after Mike Ashley's Frasers Group swooped in to buy the struggling luxury department store chain. The blockbuster deal was struck through a pre-pack administration process, with FTI Consulting LLP appointed as administrators before the sale was agreed. It comes

The retail billionaire Mike Ashley was on Wednesday putting the finishing touches to a rescue deal for Harvey Nichols, the department store chain.

It has been warned that the retailer needs to obtain emergency funding or face a potential collapse