// Selfridges may be sold for over £4bn following an unsolicited approach
// The retailer brought in advisers from Credit Suisse
// The bid interest is likely to draw out other would-be buyers
Selfridges may be sold for £4 billion or more after considering buyer interest following an unsolicited approach.
The luxury department store is owned by the Weston family, who also control Primark, and have brought in advisers from Credit Suisse.
The bid interest is likely to draw out other would-be buyers.
READ MORE: Family behind Selfridges & Primark retain top spot in retail rich list
An approach to buy Selfridges has been made, but a deal was not a foregone conclusion.
Meanwhile, the Westons are likely to consider the extent to which any interested parties value sustainability as Selfridges has put sustainability at the heart of its strategy.
Selfridges’ property assets alone are worth £2 billion.
In its most recently reported financial year, Selfridges Group’s holding company SHEL Holdings said the pandemic “had a significant short-term impact on the group’s profitability” but it has “committed support from its ultimate parent company”.
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