Harrods £68m in red and faces strike by dozens of restaurant workers
Harrods plunged £68m into the red last year after pandemic lockdowns halved its revenues, according to recently published accounts, and the luxury department store is now facing a strike by dozens of restaurant workers.
During a year which saw visitor numbers to London plummet and stores forced to close for weeks at a time, the Knightsbridge institution, which first opened its doors in 1849, has reduced staff numbers and ditched a dividend to its Qatari owners. They collected £125m the year before.
The company, which was bought by Qatar Holding, the investment arm of Qatar’s sovereign wealth fund, in 2010 for an estimated £1.5bn, blamed government-imposed high street lockdowns for its difficulties said it had more than halved spending to just
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