Questions are being asked of Frasers Group over the future of Harvey Nichols this week, as the website shutters and Dublin store teeters on closure, writes Drapers editor Jill Geoghegan.
This week all eyes were still firmly on Harvey Nichols following its acquisition by Frasers Group through a pre-pack administration last Thursday.
Harvey Nichols’ website has shut down and the luxury department store has said it will not directly offer refunds for orders or gift cards purchased prior to Frasers Group’s takeover of the business on 13 August. Its UK stores remain open. However, sources have told Drapers that several unprofitable stores may be at risk of closure in the coming weeks and months as Frasers looks to streamline the business.
Meanwhile, the retailer’s Irish website has also closed after joint liquidators were appointed at Ireland’s High Court on 14 August after the business was declared insolvent with net liabilities of €28.2m (£24.1m) at the end of the 2026 financial year. Its Dublin store, which initially closed in the aftermath, has reopened and continues to trade – with Frasers’ support- while liquidators seek a buyer. 33 jobs remain at risk.
Suppliers too remain in limbo as they wait to see if Frasers will pay the debts they are owed. Some suppliers we spoke to this week are nervous and have yet to hear from Frasers since the deal. However, the retail group has confirmed it will pay freelance stylists and personal shoppers at Harvey Nichols what they are owed which is encouraging. Let’s hope it’s not a repeat of the Matches fiasco of 2024. We’re following the story closely at Drapers online and will keep you up to date as the situation develops.
Elsewhere this week tough trading continued for JD Sports as the sportswear giant issued a profit warning amid soft sales, particularly in footwear, in a “highly promotional market”.
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The business lowered its 2026/27 profit guidance to between £700m and £800m (previously £750m to £850m) after like-for-like sales fell 3.1% to £3.08bn in the 13 weeks to 1 August 2026. Embattled CEO Régis Schultz pointed to weak product from big footwear brands and increasing cost of living pressures on its customers for the lacklustre performance.
Continuing the footwear theme, this week we spoke to UK footwear buyers to find out what trends they are backing for spring/summer 27- read about their top picks here.
Thanks for reading and see you next week.
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