Harvey Nichols has confirmed it will close its Dublin store in September, with employees already informed of the closure. The move 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.
Online trading paused during transition
Harvey Nichols has also put online trading on a temporary pause while it transitions to the new ownership under the Frasers Group. A notice on the website reads: "We are pleased to confirm that Harvey Nichols has entered an exciting new chapter with new ownership, supporting its future, under the Frasers Group."
The notice adds: "Harvey Nichols is currently unavailable online whilst we complete a period of transition. In the meantime, our stores remain open, and our teams are on hand to assist with anything you may need. Thank you for your continued support."
Insolvency and liquidation
According to the Irish Times, administrators Grant Thornton confirmed that the Dublin store will close on September 13, after being unable to reach an agreement with Dundrum Town Centre to continue trading.
A statement read: "We recognise that this is difficult news for employees, customers and other stakeholders. Representatives of the joint provisional liquidators (or Grant Thornton) will be on site to meet with employees, answer questions and provide support during this period. Our immediate focus is on supporting staff through this process and ensuring an orderly wind-down of operations."
The High Court was told the Dublin store, which has 33 staff and was part of the Harvey Nichols group in the UK, was unable to pay its debts and was insolvent. John Boland and Nicholas O'Dwyer of Grant Thornton were appointed as joint liquidators of the store, which had an annual rent cost of almost €1.1 million.
The sole director of the trading entity behind the store, Julia Goddard, said there was no buyer for the company and that the board had decided that entering a winding-up process was in the company's best interest. She said that if no buyer could be found for the Dundrum company, the joint liquidators would be best placed to implement an orderly cessation of trading and secure the company's assets.
