As per media reports, Selfridges, the renowned British retailer, is considering sale of its business for £4 billion.
Weston family, which owns the retailer, has, reportedly, consulted Credit Suisse advisers to explore the possible sale following an unsolicited bid.
If at all the sale happens, it will include stores in Birmingham and Manchester in addition to the ones in Ireland (Brown Thomas and Arnotts).
The sale also, as per reports, includes property assets worth £2 billion such as the flagship store at London’s Oxford Street.
Though not much information has been disclosed regarding the sale process, there’s speculation that the buyer could be from China or the Middle East.
Amongst the several measures initiated by the retailer since the pandemic, Selfridges also started a new online fashion rental service through Hurr Collective.
Also Read: Selfridges introduces new online rental offering now!
Founded in 1908, Selfridges was acquired by Weston family in 2003 for £598 million. It has its headquarters at London.
