Frasers Group, controlled by billionaire Mike Ashley, has successfully entered the auction process for Harvey Nichols, despite initial objections from the luxury department store's brand partners.
According to City AM, Frasers Group demanded to be allowed to participate in the auction, and the situation has now evolved to include the group alongside other interested parties.
Harvey Nichols, which has 14 locations worldwide, has struggled to compete with rivals Harrods and Selfridges in recent years.
The group's entry into the auction process could set the stage for a bidding war with high street giant Next, which has also been drawing up plans to make an offer for the department store.
Frasers Group has a history of making aggressive plays to take control of rival retailers, including Debenhams and luxury bagmaker Mulberry.
Among the brands stocked at Harvey Nichols are Armani Beauty, Nike, Polo Ralph Lauren, and Cartier.