Modella Capital Considers Bid for Harvey Nichols
Modella Capital, owner of TG Jones, is reportedly considering a bid for the luxury department store Harvey Nichols, following its recent court-approved rescue plan for WHSmith's hi
By Sky News
Modella Capital, the investment company that owns TG Jones, is contemplating a potential bid for Harvey Nichols, the upscale department store chain. This comes after Modella secured court approval for a rescue plan that preserved WHSmith's high street operations, now rebranded as TG Jones.
Industry insiders have described Modella's chances as a 'long shot' compared to other contenders, including Next PLC and Frasers Group. Harvey Nichols has informed its brand suppliers that it was compelled to allow Frasers Group to participate in the bidding process alongside other interested parties.
Sir Dickson Poon, who has owned Harvey Nichols since his family's acquisition in 1991, has engaged FTI Consulting to assist in finding a buyer. The consulting firm is overseeing the sale process, with multiple strategic options under consideration, including an outright sale or new investment.
Next PLC is preparing to launch a takeover bid for Harvey Nichols, which operates 13 locations as of 2025, with its flagship store situated in Knightsbridge, London. The first round of bids for Harvey Nichols is due later in July 2026.
Frasers Group has gained approval to take part in the auction despite reported opposition from some luxury brand suppliers. Modella Capital's existing brand portfolio includes TG Jones, Hobbycraft, and Flying Tiger, but the seriousness of its bid for Harvey Nichols remains uncertain, according to industry sources.