The Harvey Nichols department store chain to be acquired by Frasers Group

There’s no end in sight to British investor Mike Ashley’s appetite for acquisitions: his Frasers Group is acquiring the British luxury department store chain Harvey Nichols, which is facing a difficult restructuring.

One thousand employees affected

The deal includes Harvey Nichols’ recently renovated flagship store in Knightsbridge, as well as its stores in Manchester, Birmingham, Bristol, Leeds, and Edinburgh. All six locations will remain open for the time being. The transaction also includes Harvey Nichols’ international franchise agreements, as well as the inventory and store fixtures of the Dublin location. The department store chain employs more than 1,000 people.