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PRIVACY
Retail & Consumer

Iconic department store chain Selfridges 'set for 拢4bn sale'

The company was taken over in a £598m move by Canadian billionaire Galen Weston in 2003

Selfridges, Exchange Square, Manchester(Image: Manchester Evening News)

Iconic department store chain Selfridges has been put up for sale for £4bn by the billionaire Weston family, according to reports.

The Weston family are believed to be seeking a sale of the business which was founded in 1908 by Harry Selfridge.

The chain's flagship store is located in Oxford Street, London, and opened on 15 March 1909.

Other stores opened in Manchester's Trafford Centre in 1998 and Exchange Square four years later and in the Bullring in Birmingham in 2003.

The company was taken over in a £598m move by Canadian billionaire Galen Weston in 2003.

The Weston family have drafted in advisers at Credit Suisse to advise on a possible sale after an unsolicited takeover approach, React News first reported.

It is understood that a deal would include the chain's Oxford Street flagship store as well as its outlet on Exchange Square in Manchester and the Browne Thomas and Arnotts stores in Dublin.