Al Fayed forced to support flailing Harrods

Mohamed Al Fayed is reportedly using his personal fortune to help support Harrods, which has seen a slide in customers.

In an interview with the Financial Times, Mr Al Fayed said he had used his international oil and mining interests to fund the store.

He has also shored up Fulham Football Club and the Ritz hotel in Paris, which he also owns.

Mr Al Fayed also admitted to a "significant downturn" in shoppers at the store, following September 11.

Harrod's much-speculated plans to float on the stock exchange are now seen as unlikely, but Mr Al Fayed told the FT taking the store public remained "a possibility".

Earlier this year, in response to increasing speculation it is due to announce a flotation, Mr Al Fayed played an April Fools' prank on journalists by issuing a joke press release entitled "Al Fayed Reveals Plans To Float Harrods".

Today's admission however comes after one of Mr Fayed's toughest years since acquiring Harrods in 1985.

Last month, the Egyptian-born businessman lost a legal battle to retain his special tax status, while his Fulham Football Club in April showed it had plunged deep into the red, making a loss of £23.3m (€35.8m) after its wage bill soared.

Harrods was not available to comment.