London, Selfridges could be sold to Qatar

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After Harrods,  Qatar also wants to buy Selfridges. We knew the owners of Selfridges wanted to sell it, but now as long as negotiations for a £ 4 billion sale are going well with the Qatar Investment Authority.

Such a deal would see the Middle Eastern state acquire ownership of another prestigious London department store.

The Weston family has launched an auction for Selfridges last month after a difficult year during which it was forced to close for several months. The group operates four Selfridges stores in the UK: in London , Birmingham and Manchester, where it has two.

Sources say Qatari are not in exclusive negotiations yet and it is possible that a rival bidder for Selfridges can still be successful.

Selfridges was founded by Harry Gordon Selfridge, an American retail magnate in 1908. ”He built it into a household name before stepping down in 1941.

The large Oxford Street shop has become a London landmark. It managed to counter the declining trend of main roads and helped the company maintain strong sales, at least until the pandemic.

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