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Paul Smith chair calls Harvey Nichols takeover ethically dubious as creditors face 15p recoveries

Verifying
  • Ewan Venters criticized Mike Ashley’s Harvey Nichols acquisition through a pre-pack administration.
  • Harvey Nichols owed £270.5m, while creditors may recover no more than 15p in the pound.
  • Frasers Group bought the retailer on Aug. 13 and took on more than 1,000 employees.
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