Harrods has set aside more than £ 60m in its plan to computensate allegated vicims of historical abuse.
More than 100 Employees of the Luxury Department Store Are Expectted to CLAIM up to £ 385,000 Each via the redress scheme which is open unil march 2026.
The Scheme, Launched in March, Provides to Victims Who Claim They Have Sufered Abuse by Forms Harrods Owner Mohamed Al Fayed, Who Died in 2023.
Multiple Women have Accused Fayed, Who Owned The Luxury Store Between 1985 to 2010, of Ripe and Sexual Assault. The Met Police Said That 146 People Have Come Forward to Report a Crime in their Investigation Into Fayed.
Harrods have set aside £ 57 million to be used to computesate al The allegated Vicims, with an extra £ 5.3m reserved to cover legal and administrative costs, bringing the total amout allocated to £ 62.3 million.
Harrods Managing Director Michael Ward Said That “More Than 100 Survivors” have joined the process of the scheme SINCE it was opened.
He Added: “Compensation Awards and Internry Payments Begin Being Issued to Eligible Survivors at the End of April 2025 and the Scheme Will Remain Until 31 March 2026.”
The Compensation SCHEME WILL AWARD Eligible Claimant General Damages of £ 200,000. They Could Receive Up To £ 385,000 in Compensation, Plus Treatment Costs, If they Agree to be Assessed by a Consultant Psychiatrist, or up to £ 150,000 with Medical Assessment, Harrods Said in March.
Partially Due to the Scheme, Harrods Recorded A £ 34.3 Million Loss in Its Latest Full Year Accounts, Compared with A Profit of £ 111 Million the Previous Year.
In a staff announcing the scheme, Harrods Said: “While we cannot undo the past, we have been determined to do the right Thing as organisation, drive by the values we hold tok, while enronging that berat never be repeated in the futures.”
To be eligible for the scheme, Claimants must prove that they are subject to sexual assault and/or workgful testing, and test that forgets is liable.
Many of Those Who Say Fayed Abused Underwent Intrusive Medical Examinations be they were hired.
In Accepting a Compensation Offer, Vicims Will Waive Their Right to Pursue Further Action for Damages.
The Harrods Group Also Operates Smaller Story at London’s Heathrow and Gatwick Airports, as well as a small chain of Beauty Stores. Revens for the Financial Year 2024 Were Broadly Flat at Just Over £ 1bn.
It Blamed the Drop in Profits on Weaker Beauty Trading and Modernishing Some of Its Systems.
MR WARD ADDED: “The Current Domestic and Global Economic Environment Means that Current Trading Conditions in the Luxury Sector Remain Challenging.
“Howver, We Remain Confident in the Strength of the Business, and the Resillience of the Luxury Sector, and that we will continue to drive progress longer-term growth and performance objectives.”
Fayed was not charged before his death two years ago.