Harvey Nichols Warns It Will Run Out of Cash Within 12 Months

Harvey Nichols' directors have formally warned the 195-year-old luxury retailer is not a going concern, with cash expected to run out within 12 months and no new funding agreed. The chain posted a £105m loss for the year to March 2025. Owner Sir Dickson Poon put the business up for sale in June; Mike Ashley's Frasers Group leads bidding at roughly £40m. Harvey Nichols has not turned a profit since the pandemic cut off big-spending foreign tourists.