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London, Selfridges could be sold to Qatar

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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