Mike Ashley's Frasers gatecrashes Harvey Nichols auction - report

(Sharecast News) - Mike Ashley's Frasers Group has reportedly gatecrashed the auction of Harvey Nichols despite objections from a number of prestige brand-owners to a prospective sale to the Sports Direct and House of Fraser owner. According to Sky News, Frasers wrote to Harvey Nichols in recent days demanding to be allowed into its sale process.

On Tuesday morning, Harvey Nichols wrote to brand owners which supply Harvey Nichols to inform them that it had been "obliged to allow Frasers Group to participate in the process alongside the other interested parties", Sky said.

In a memo to brand partners seen by Sky, a senior Harvey Nichols executive wrote: "When we last spoke, I committed to transparency and keeping you updated on developments regarding the sale process for Harvey Nichols.

"As of yesterday, the situation has evolved and we are now obliged to allow Frasers Group to participate in the process alongside the other interested parties.

"This forms part of ensuring a robust and competitive process as we seek the right partner to support Harvey Nichols' next phase of growth."

Sky said it was unclear why Frasers' expression of interest had compelled Harvey Nichols to engage with it.