British luxury department store chain, now under Frasers Group (Aug 2026)
Harvey Nichols has been put up for sale and is undergoing a turnaround led by Frasers Group. The six-storefront estate, including Edinburgh’s flagship, will continue operating while a broader restructuring is pursued, with potential integration of Flannels and the wider Frasers luxury ecosystem.
Scottish Water executives have received substantial performance payments amid rising household bills and ongoing sewage concerns. Critics say payouts undermine public trust as the government grapples with wage and bonus controls in the sector.
Frasers founder has warned the high street could be "further devastated" without major business-rate cuts, criticizing the Prime Minister's approach while Downing Street promises action to back British business. The exchange highlights a broader push to reform rates for pubs, clubs and live venues as part of a wider cost-of-living agenda.
Frasers has built its Hugo Boss holding to about 47.9% and says it aims to exceed 50% of shares and voting rights. The move follows Harvey Nichols acquisition and a failed bid to take Hugo Boss private. The group says there is no certainty it will achieve the majority and it is reviewing support for Hugo Boss chair Stephan Sturm.
Beauty retailers are rolling out advent calendars for 2026, featuring luxury and budget options. LookFantastic, M&S, Boots, and Boots’ fragrance line unveil calendars with full-size products, elite brands, and online exclusives. The range includes premium, mid-range, and affordable options, with clear savings versus listed values.
Frasers has appointed Michael Murray, its chief executive and son-in-law of founder Mike Ashley, to Hugo Boss’s chairmanship as the luxury brand tightens its ties with the conglomerate. Sturm will step down, having announced an orderly transition, while Frasers seeks majority control after lifting its Hugo Boss stake to nearly 48%.
Funding Circle has announced that chief executive Lisa Jacobs will leave the group no later than September 2027 and the board has begun the search for a successor. Jacobs has led the group since 2022 after joining in 2012, as profits for the six months to June climbed, prompting an upgraded outlook. Shares fell in early trading despite the upbeat results.