Harvey Nichols owner Sir Dickson Poon has committed to lend an additional £32.5m to the retailer, in a bid to veer it away from financial difficulty.
Accounts filed at Companies House last week show that the businessman lent the department store chain £25.5m, and had committed to pay a further £7m following its year-end last April.
Poon has now lent £106m in total to the luxury retailer, which now has no external debt.
A Harvey Nichols spokeswoman said Poon believes it is best for the company to be financed by himself, commenting: “This is a clear illustration of his commitment to the successful development of Harvey Nichols”.
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Harvey Nichols reduced its losses last year, as it continued its slow recovery from the impact of the pandemic.
Pre-tax losses shrunk 29% from £30.4m to £21.3m in the year to 1 April 2023.
Sales surged 13% to £216.7m during what it termed its “first full year not impacted by Covid restrictions”.
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