Mike Ashley’s Frasers snaps up Harvey Nichols

Mike Ashley's Frasers Group has acquired luxury department store Harvey Nichols through a pre-pack administration deal, preventing a potential collapse. Following an auction process where Frasers competed against Next, the deal includes the online business, existing stock, and six stores located in Knightsbridge, Manchester, Birmingham, Bristol, Leeds, and Edinburgh, excluding the Dublin site. This acquisition allows the owner of Sports Direct and Flannels to further expand its presence within the upmarket retail sector across the United Kingdom.