Harvey Nichols bought from administration by Mike Ashley’s Frasers

The Bristol store is included in the deal Mike Ashley’s Frasers Group has bought Harvey Nichols after the struggling department store chain fell into administration. Bosses at Sports Direct owner Frasers said they will now oversee a turnaround at the historic chain, which could see it become a “smaller business” in the short-term. Frasers will now oversee a “significant restructuring” as it integrates Harvey Nichols into its wider group, with plans to review the retailer’s shop portfolio, organisation structure, operating model and costs. It comes after an auction process for Harvey Nichols which saw Frasers battle retail rival Next to…