Who would want to buy Selfridges?

A stake in Selfridges – the most iconic department store in the vast retail emporium of Oxford Street – is again up for grabs. It is the latest chapter in an ongoing financial crisis engulfing its Austrian co-proprietor Signa Group, the property empire built by self-made billionaire, René Benko.

The original deal for Selfridges dumped at least £1.7 billion in debt onto the group, which owns four UK department stores, as well as de Bijenkorf in the Netherlands and Brown Thomas and Arnotts in Ireland. Central is now looking for ways to take greater control of Selfridges: last year, it took majority ownership of the Selfridges operating company with a £317 million debt-for-equity deal which diluted Signa’s stake. It is reportedly in talks with several sovereign wealth funds (everyone’s favourite sugar daddy). Middle East and Chinese investors are reported to be interested, with the Public Investment Fund (PiF), Saudi Arabia’s sovereign wealth fund, said to be in the running.