Following the wave of insolvencies that have hit the Signa Group, British department store chain Selfridges Group is reportedly in talks with the Thailand-based Central Group to negotiate future financing to settle outstanding debts.
Signa bought Selfridges together with Central Group last year for £4 billion. Central became the majority shareholder in Selfridges in mid-November; however, Signa’s insolvencies have left the retail group in a difficult situation.
According to Bloomberg, the extent of the negotiations and financial support is currently unclear. Selfridges is acting independently of its shareholders, so the position of the department store chain remains unchanged at present, a report said.
