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The Webster
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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.