Image source, James Willoughby/SOPA Images/LightRocket via Getty ImagesByYasmin RufoBusiness reporter Published13 August 2026, 13:40 BSTUpdated 3 minutes agoDepartment store Harvey Nichols has been bought by the owners of Sports Direct.
Mike Ashley's Frasers Group will take control of the six Harvey Nichols stores, including its flagship in Knightsbridge, as well as the international franchise.
It will also acquire the online business, and stores will continue to operate under their existing licensing.
Harvey Nichols carries more than 800 premium and luxury brands and has over 1,000 employees. Its other stores are located in Manchester, Birmingham, Bristol, Leeds and Edinburgh.
Earlier this week, it warned in its latest accounts that it would need to "cease trading" within a year if it failed to secure new investment.
The luxury store, founded in 1831, had appointed an administrator in June.
Frasers Group's chief executive Michael Murray said: "Harvey Nichols is an iconic British institution with significant potential, but it is clear meaningful change is needed.
"The turnaround will require tough choices and we are prepared to make those decisions, even if that means a smaller business in the near term, to create a stronger and more sustainable Harvey Nichols for the long-term."
Julia Goddard, Harvey Nichols chief executive said today marked "an important milestone" for the company and "provides a strong platform for the next phase of the business's evolution".
"Over the past year, we have made significant progress in repositioning this iconic business, investing in our flagship store, broadening our customer proposition, and strengthening the brand DNA," she added.
