Harvey Nichols has indicated that it may not survive another year without new investment, as potential buyers express interest in the struggling department store chain. The retailer, owned by Dickson Poon, has not turned a profit since the pandemic and reported a significant loss of £105 million for the year ending March 2025. The company is currently exploring bids, with Mike Ashley's Frasers Group emerging as a leading contender for acquisition.
The store, known for its luxury retail status and cultural significance, has struggled to compete with online shopping and other retail destinations. With no current funding agreements in place, the directors have warned that the company is at risk of running out of money within the next year, emphasizing the urgency of securing a deal to ensure its future viability.