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Investors from the Middle East and China are reportedly eyeing up Selfridges amid the financial troubles of its Austrian co-owner Signa, according to The Times.
Thai conglomerate Central Group, a fellow co-owner, wants to buy out Signa’s remaining stake in the department store chain with another partner.
Central group is currently in talks with several sovereign wealth funds and tycoons about a potential partnership.
Both Saudi Arabia’s Public Investment Fund, which supported Signa’s Selfridges bid, and Gucci owner Kering are considering acquiring a stake in the luxury retailer.
Alongside this, it has also been reported that the Qatar Investment Authority (QIA) may renew its interest in the department store.
QIA had originally sought to buy the store when the Weston family put it up for sale in 2021.
Insiders ruled out backing from the likes of the London branch of Bangkok Bank, which provided a loan of £1.7bn that is secured against the freehold of Selfridges’ store.
Signa acquired Selfridges back in 2021 for £4bn but called in restructuring experts in November before filing for insolvency amid a cash crunch.
Following Signa’s turmoil, Central moved to seize control of the operating business, converting a £317m loan into a majority stake in the retailer.
