© 2020 – 2024 AEA3 WEB | AEAƎ United Kingdom News
AEA3 WEB | AEAƎ United Kingdom News
Image default
News

Selfridges sold as part of £4bn deal

Deal with Thai and Austrian firms includes the four UK stores and raises hopes for Oxford Street redevelopment

The family owners of Selfridges have sold out to Thai retailer and an Austrian property company for an estimated £4bn in a deal which sees the return of the luxury department store’s former boss Vittorio Radice.

Thailand’s Central Group and Austrian real estate company Signa Holding already jointly own major department stores in Italy, Germany and Denmark via a division run by Radice, who left Selfridges in 2002, the year before Canada’s Weston family bought it for £628m. The firms are thought to have beaten off rival bids from the Qatar Investment Authority, which owns Harrods, and Lane Crawford, a Hong Kong-based department store owner.

Continue reading…

Related posts

Jack Dorsey steps down as Twitter chief executive

AEA3

‘Do star jumps’: energy supplier criticised over advice on keeping warm

AEA3

Calls for Sunak to withdraw Tory whip from Michelle Mone in Lords

AEA3