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International Business Times UK

Business

Francis Louie C. Añiga

Harvey Nichols Saved by Sports Direct Owner Mike Ashley After Luxury Retailer Warned It Could Run Out of Cash

Harvey Nichols Sports Direct Frasers Luxury Frasers Group Catherine Shuttleworth Flannels FTI Consulting House of Fraser Next

Harvey Nichols has been bought by the owner of Sports Direct (Credit: Matthew Wells/Flickr)

Harvey Nichols has been bought out of administration by Mike Ashley's Frasers Group in an emergency rescue that saves more than 1,000 jobs after the luxury retailer warned it could run out of cash within a year without fresh funding.

The deal, completed on Thursday 13 August 2026 in London, covers the flagship Knightsbridge store and most of the UK estate, as well as Harvey Nichols' international franchise business.

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