Major Department Store Confirms Closure Amid £40m Takeover
A major department store has confirmed it will close one of its sites very soon. The Harvey Nichols store in Dublin will reportedly stop trading in September, with employees already informed of the closure. It comes as Frasers completed its acquisition of the chain on August 14 in a £40 million deal, which includes its six UK stores in Knightsbridge, Manchester, Birmingham, Bristol, Leeds and Edinburgh.
TL;DR
- Harvey Nichols' Dublin store is set to close on September 13.
- The closure follows Frasers' £40 million acquisition of the Harvey Nichols chain.
- The Dublin store was unable to reach an agreement with Dundrum Town Centre to continue trading.
- The store is insolvent and unable to pay its debts, impacting 33 employees.
- Online trading for Harvey Nichols is temporarily paused during the transition to new ownership.