Business · 7 August 2026
Mike Ashley Nears Harvey Nichols Deal After Five Years of Losses
Anthony O'Neil via Wikimedia Commons (CC-BY-SA-2.0)
The purchase will finish Asian businessman Sir Dickson Poon's 35-year stint in charge following five straight years of financial losses. Frasers Group, the billionaire's retail company, beat rival clothing chain Next to become the main contender for an imminent takeover. The famous shop network currently employs about 1,200 people and recorded a £34m pre-tax deficit during its last trading year.
Reported by Sky News · How we write briefs