Thailand-based Central Group is reportedly one of a number of companies looking to buy Selfridges.
The conglomerate, which owns Italian department store Rinascente, is not the only company that has expressed an interest in purchasing the retailer.
Last month it was reported that Selfridge’s owners were in talks about selling the department store chain to the Qatar sovereign wealth fund in a £4 billion deal.
Selfridges, founded in 1909, has four UK outlets: its 600,000 square feet flagship Oxford Circus store in London, one in Birmingham, and two in Manchester.
Sources at Sky News revealed that the Central Group is working with Citi investment bankers on its interest in the luxury department store. But the bankers added that there was no certainty a formal bid would be made by the group.
Selfridges began looking for new owners in July of this year, but no new owner has been decided upon.
If a deal were to take place, it would mark the first time that the department store has switched hands in almost twenty years.
Selfridges was purchased by Canadian billionaire Galen Weston for £598 million in 2003.
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Poundland significantly reduces antisocial behaviour, aggression and shoplifting with Motorola Solutions VT100 body cameras
Retail should not be a high-risk occupation. As a company, we are focused on listening to our colleagues and customers to help them with the issues they are facing in-store and so far, the feedback on our body cameras has been excellent. They act as a great visual deterrent, help to de-escalate situations and overall, this project has significantly aided our goal to make the retail environment safer.
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For further information on Motorola Solutions’ retail security products, including body cameras, click here.
Supplying demand: how fashion retailers can meet the needs of customers and still be sustainable
The fashion industry is no stranger to breaking the mould and setting trends, but the pursuit of style can come at a huge cost to the environment.
New legislation, such as the European Union's Ecodesign for Sustainable Products Regulation, will set mandatory minimums for the inclusion of recycled fibres in textiles, making them longer-lasting and easier to repair.
New legislation, such as the European Union's Ecodesign for Sustainable Products Regulation, will set mandatory minimums for the inclusion of recycled fibres in textiles, making them longer-lasting and easier to repair.
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