Top News

Selfridges Is Up For Sale, So If You’ve Got A Spare £4 Billion Lying Around, You Know What To Do

Alex Landon Alex Landon - Editor

Selfridges for sale

Selfridges is up for sale, but it won’t come cheap…

If you’re an entrepreneurial type looking for a flagship investment for your portfolio, well, we may have found just the thing for you. Famed London department store Selfridges is currently for sale, at a cool asking price of £4 billion. That’s actually four stores for the price of one, though – it’s the whole business up for sale, not just the London flagship, so the successful buyer will also get the brand’s two Manchester stores and their Birmingham branch into the bargain. Well, bargain may not exactly be the right word here, but you get my meaning…

Selfridges is currently the property of the Weston family, who have built a pretty formidable food and clothing empire across the world (they also own the company that owns Primark, for instance). Now, the Evening Standard is reporting that they’ve tapped Credit Suisse to help find a buyer for the iconic department store chain, with the sale potentially to be completed by the end of the year. The family stands to make a tidy profit from the sale; when they bought Selfridges in 2003, they got it for £598 million.

A “small number” of parties are already reportedly interested in purchasing Selfridges, and if you have the money to spare, please do reach out to Credit Suisse to register your own interest. As a London institution – and one which, by all accounts, has weathered the pandemic fairly well – it’s unlikely that new ownership will prove a threat to the current London flagship store, which has stood on the same site since opening in 1908. Not bad, considering that founder Harry Selfridge set it up after he became bored with retirement…

In other shopping news, historic department store Whiteley’s is being transformed into a new retail destination with a £1 billion investment.

Also published on Medium.

Tags: shopping