Next plc Looks Into Potential Buyout Bid for Harvey Nichols

Next plc (NXT.L) is exploring a potential takeover of luxury department store chain Harvey Nichols, which was recently placed on the market, Sky News reported July 4, citing unnamed sources. The British retailer's plans about potentially operating Harvey Nichols' outlets in Britain or using the brand and other intellectual property assets are still unclear, the report added. While British sports and luxury retailer Frasers Group (FRAS.L) was also negotiating the purchase of Harvey Nichols' regional stores, it is no longer included in the sale process, the news agency added. Next did not immediately respond to a request for comment.