For a very long time they have been some of the trendiest shares to own - but now they have changed from trendy to priceless.

Harvey Nichols has been taken off the stock exchange after a long-running battle to take the upmarket department store back into private ownership.

The company, which runs the flagship Knightsbridge store favoured by Joanna Lumley and Jennifer Saunders in the television comedy Absolutely Fabulous, will cease trading on the London Stock Exchange tonight.

The move comes after Hong Kong businessman Dickson Poon secured enough shareholder support for his 250p a share offer for the company.

As well as the London store, Harvey Nichols has shops in Edinburgh, Leeds and Birmingham and plans to open in Manchester next year.

Shares rose 6p to 247.5p yesterday.