Harvey Nichols long-term owner owed £100m+ but won't get that back

Harvey Nichols’ former owner, billionaire Sir Dickson Poon, is likely to recover far less than the £104.6 million he is owed following the retailer’s administration, according to Companies House filings. Poon bought the business in 1991 for £53 million and owned it for 35 years, with his Broad Gain (UK) entity listed as the biggest creditor. The department says the retailer was sold for just over £43 million, while secured creditors will take priority, making a large portion of the claim unlikely to be repaid. Overall, Harvey Nichols owed about £240 million. Insolvency firm FTI Consulting expects unsecured creditors to receive up to 20%, possibly under 1% for some.