Mystery Buyer Targets World Famous Selfridges For $5.6 Billion

Mystery Buyer Targets World Famous Selfridges For $5.6 Billion

Selfridges sale? Owners the Weston family have received an unsolicited approach for London's iconic ... [+] department store. Photographer: Jason Alden/Bloomberg A mystery buyer has offered to purchase the upscale Selfridges department stores for around $5. 6 billion. The upscale chain has received an unsolicited approach for the flagship London store and a number of other department stores currently owned by the wealthy Weston family. The family has appointed Credit Suisse as adviser to consider what the next step forward for the company could be, with proceedings currently understood to be at an early stage and may not lead to a transaction. Selfridges owns more than 600, 000 square feet of selling space at its flagship Oxford Street store in London and the Weston's holdings now comprise a stable of upmarket stores in the U. K., Ireland and the Netherlands, plus two further Selfridges stores in the U. K. city of Manchester and another in Birmingham. The Weston's also own Canadian department store group Holt Renfrew. While a deal to sell the iconic London landmark might be tempting at a time when physical retail has been severely hit by the global pandemic, it may also see the group's assets under-valued