The luxury department store chain Selfridges is being put up for auction, with its owners putting a £4bn starting price on the business.
The chain, which is owned by the Weston family – one of Canada’s wealthiest – received an anonymous bid for its European assets last month, after which it said it might consider a sale. It follows the death of 80-year-old W Galen Weston – the head of the family – who oversaw the £628m acquisition of Selfridges in 2003.
Selfridges’ four UK stores, alongside Brown Thomas and Arnotts in Ireland and De Bijenkorf in the Netherlands, will be part of the deal.
The Weston family has appointed Credit Suisse to manage the auction.