Harvey Nichols bought by owner of Sports Direct
Image source, Getty Images By Yasmin Rufo Business reporter Published 13 August 2026, 13:40 BST Updated 5 hours ago Luxury department store Harvey Nichols has been bought by the owner of Sports Direct, which warned a "significant restructuring" was needed to ensure the 200-year-old business remains sustainable. Mike Ashley's Frasers Group will take control of the Harvey Nichols stores, including its flagship in Knightsbridge, as well as the international franchise. The department store was immortalised in BBC sitcom Absolutely Fabulous, but had faced challenges in recent years. The firm had appointed administrators in June. Michael Murray, Frasers' chief executive and Ashley's son-in-law, called the store a "British institution with significant potential" but added "clear meaningful change is needed". "The turnaround will require tough choices and we are prepared to make those decisions, even if that means a smaller business in the near t...
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