Famous British department store plunges into liquidation after 21 years with 33 jobs at risk

A FAMOUS British department store has been plunged into liquidation after over two decades of trading. Some 33 employees worked at the 32,000 sq ft store before its collapse, with all jobs said to be at risk. A British-founded department store has been plunged into liquidation after over two decades of trading Credit: Alamy Harvey Nichols in Dundrum Town Centre, Dublin, has appointed liquidators Credit: Google Maps Joint liquidators have been appointed to the Harvey Nichols in Dundrum Town Centre, Dublin, after the luxury department store was unable to pay its debts, Drapers reports. This comes after the company was rescued from the brink of collapse by Mike Ashley’s Frasers Group last Thursday, taking occupation of its six major stores including its newly-refurbished Knightsbridge venue. Sign up for the Money newsletter Thank you! Upon the announcement, Frasers Group confirmed that it would support trading at the Dublin branch, with certain assets, including stocks and fixtures, snapped up during the transaction. However, shortly after, liquidators were assigned to the department store as it was revealed the branch was simply unable to pay its debts. Ireland’s High Court was told last week that the Dublin location was insolvent, with Ms Justice Siobhan Stack assigning John Boland and Nicholas O’Dwyer of Grant Thornton as joint liquidators. Written evidence submitted by Harvey Nichols CEO Julia Goddard said that the store had not recovered from poor trading during the Covid-19 pandemic and would not be supported by the UK group. Annual rent for the Dundrum Town Centre location totalled at £905,250, with the company seeing net liabilities rise from £16.56million in 2021, to £24.09million by the end of the 2026 financial year. After no buyers showed interest, the company decided it was in the best interest to enter the winding up phase. Most read in Money Harvey Nichols in Dublin has been based on the outskirts of the city since 2005, with 33 people employed prior to its collapse. Spanning 32,000 sq ft and based across three-floors, it initially became the anchor tenant when the shopping centre first launched. Court proceedings are set to continue on September 7, where the future of Harvey Nichols’ Dublin store will be decided. Grant Thornton has been approached for comment. Comment now