Harvey Nichols sale set to cost luxury brands millions

Suppliers to Harvey Nichols including Chloé, Victoria Beckham and Coach are set to recover less than 15p in the pound after the luxury department store chain went into administration owing £270mn to unsecured creditors. The brands are among hundreds of suppliers to Harvey Nichols, which was bought last month by Mike Ashley's Frasers Group for £43.3mn through a pre-pack administration, shorn of some of its liabilities.

Among the retailer's unsecured creditors, Canada Goose is owed £565,267; Max Mara £520,000; Chloé £516,329; Coach £402,285 and Victoria Beckham £353,349, according to documents filed at Companies House on Thursday. Logistics firm GXO and the Royal Borough of Kensington and Chelsea are owed £4.5mn and £1.5mn respectively. Administrators from FTI Consulting estimate they will recover no more than 15 per cent of their respective debts.

Harvey Nichols and Company, the retailer's main trading entity, went into administration owing £270.5mn to unsecured creditors. FTI said Harvey Nichols, which started life as a linen shop in 1831 and rose to prominence in the 1990s when it became synonymous with the stars of the sitcom Absolutely Fabulous, had faced 'challenging market conditions' since the Covid-19 pandemic. The administrators added that trading 'continued to deteriorate and shareholder funding ceased to be available', which led to its subsequent sale to Frasers, the owner of Sports Direct.

Frasers bought six Harvey Nichols stores, including its flagship in Knightsbridge, London, as well as its online and international franchise businesses, stock and intellectual property. The high street group's chief executive Michael Murray previously warned there would be a 'significant' restructuring of Harvey Nichols as it integrated the business into Frasers following tough trading in recent years.

供应商包括Chloé、Victoria Beckham和Coach将少回收15厘钱英镑，Harvey Nichols奢侈品连锁店因欠未担保债权人2.7亿英镑进入管理。据周四在公司注册处提交的文件显示，在零售商的未担保债权人中断更多的内容，我需要继续翻译文。