Mike Ashley's Frasers leads race to buy Harvey Nichols, Sky News reports
Mike Ashley's Frasers leads race to buy Harvey Nichols, Sky News reports
Fri, August 7, 2026 at 4:04 PM UTC
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Aug 7 (Reuters) - Billionaire Mike Ashley's Frasers Group is the frontrunner to buy British department store chain Harvey Nichols, Sky News reported on Friday.
A transaction, the latest in a string of high-street acquisitions by Ashley, is expected to be completed early next week, the report said.
Here are some details:
• Harvey Nichols and Frasers did not immediately respond to Reuters' requests for a comment. Reuters could not independently verify the report.
• A deal would end 35 years of Harvey Nichols' ownership by Hong Kong businessman Sir Dickson Poon.
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• It remained possible until Friday afternoon that Harvey Nichols' rival bidder Next could yet sweeten its bid, the report said.
• Earlier this week, Ashley told the Financial Times that Harvey Nichols is in a "death spiral" and turning around the luxury department store chain would be a "huge challenge".
• Ashley, in the FT interview, said he expected Harvey Nichols to be sold for less than £40 million.
• Sky News had reported in July that British private equity firm Modella Capital was also among the parties interested in acquiring the British department store chain.
(Reporting by Sri Hari N S in Bengaluru; Editing by Shilpi Majumdar)
Source: “AOL Money”
