Browsing Tag
Harvey Nichols
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Frasers saved more than 1,000 Harvey Nichols jobs. Why are closures starting only weeks later?
Harvey Nichols will close its Birmingham department store in January with at least 60 jobs expected to disappear, while its Leeds and Bristol sites are being converted to Frasers Group's Flannels brand. The decisions show how quickly Frasers has moved from rescuing the luxury retailer out of administration to redesigning its store estate around locations and brands it believes can generate stronger returns.
Frasers Group stake in Hugo Boss hits 47.89% as €38 offer delivers much more influence than expected
Frasers Group has increased its HUGO BOSS holding to 47.89%, giving the British retailer far greater exposure to the German brand without completing a full takeover.
Frasers buys Harvey Nichols for about £40m, but its luxury expansion is becoming a balance-sheet test
Frasers Group has rescued Harvey Nichols from administration for about £40 million, adding another prestigious name to its luxury portfolio. The purchase price is small, but £1.26 billion of net debt, £250 million of recent impairments and the continuing Hugo Boss pursuit make the wider acquisition strategy increasingly important.