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Industry NewsWeston family considers sale of Selfridges stores in the U.K.

Weston family considers sale of Selfridges stores in the U.K.

selfridges_-1993928Selfridges London. Image source: Selfridges

The Weston family is considering the sale of the British department store group it owns, Selfridges, after receiving an unsolicited offer valuing the business at $5.6 billion.

According to news reports, discussions are at an early stage.

The Weston family purchased the department store chain in 2003 for close to 600 million pounds (about $1 billion CDN).

The news was first reported by property trade publication React, that described a “mystery buyer” who approach the Weston family about the potential sale.

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