Thailand’s Central Retail eyes potential investment in Selfridges

[webfact]

 

Central Retail Corp., a leading retailer in Thailand, indicated potential interest in investing in Selfridges, the renowned department store, given the right circumstances.

The company outlined their investment criteria in a recent statement to the Thai stock exchange, stating that any new venture must align with its strategic business plan, be reasonably priced, and have optimal timing.

 

The company made it clear that Central Group, its parent company and the majority owner of Selfridges since November, has not approached them about this investment.

This response came in the wake of reports suggesting that Central Group is actively seeking new investment partners, potentially due to a looming financial crisis at Selfridges, reported Bangkok Post.

Recent accounts revealed that the department store’s holding company, Cambridge Properties Holding Ltd., is currently in talks with Central Group regarding future financing to settle impending debts. 

 

by Alex Morgan 

Photo courtesy of Central Retail (Facebook)

 

Full story: The Thaiger 2024-01-06

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

Get our Daily Newsletter - Click HERE to subscribe

[JoePai]

Bit late - they already have !

[topt]

3 hours ago, JoePai said:

Bit late - they already have !

That's what I was thinking but according to the article it is the parent company who made the investment and not Central Retail Corp.

 

if interested see here for the current situation - https://www.retailgazette.co.uk/blog/2024/01/selfridges-central-stake/

Quote

Selfridges’ Thai co-owner Central Group is seeking to take greater control of the department store and could snap up fellow shareholder Signa’s stake following its collapse.