Harvey Nichols' Dublin store has entered liquidation, placing 33 jobs at risk after more than two decades of trading. The luxury department store, which opened in 2005, was unable to meet its debts and had net liabilities of £24.1 million.
Liquidators appointed
John Boland and Nicholas O’Dwyer, of Grant Thornton, have been appointed as provisional joint liquidators. The store, located in the Dundrum area of Dublin, stopped receiving financial support from its parent company after struggling to recover since the Covid-19 pandemic.
Julia Goddard, the Harvey Nichols CEO, said the annual rent for the Dublin store was £905,250. According to evidence presented to the High Court, net liabilities reached £24.1 million by the end of the 2026 financial year, up from £16.6 million in 2021.
Store details and losses
The 32,000 sq ft store opened in September 2005 and consisted of three floors, originally including a bar, cafe, restaurant and food hall. However, the bar, restaurant and food hall later closed after reportedly losing an average of £12,800 a month. The wider store continued to lose money during its two decades before entering liquidation last week.
If a buyer cannot be found, the liquidators will end trading at the store and protect the company's assets. Court proceedings are set to continue on September 7.
Frasers Group acquisition
The appointment of liquidators coincided with Fraser Group's acquisition of the wider Harvey Nichols business. They took control of six UK stores and over 1,000 employees, the online operation, inventory and franchise agreements.
Michael Murray, chief executive officer of Frasers Group, said: "Harvey Nichols is an iconic British institution with significant potential, but it is clear meaningful change is needed."
"The turnaround will require tough choices, and we are prepared to make those decisions, even if that means a smaller business in the near term, to create a stronger and more sustainable Harvey Nichols for the long term."
