Selfridges Up for Sale

Following months of rumors, the official word came yesterday that British department store Selfridges (London) is exploring a sale, according to WWD. Credit Suisse reportedly has sent out an information memo to potential investors.

In June, the chain was approached by a potential suitor with an offer of more than 4 billion pounds for its U.K., Dutch and Irish businesses. The Canadian business is reportedly not included in the offer.

Sovereign wealth funds like Adia (Abu Dhabi), the Public Investment Fund (Saudi Arabia) and the Qatar Investment Authority, which owns Harrods, are seen as potential buyers.