Central Group, Thailand’s largest department store, said in a statement on Wednesday as reported by Reuters that Central took full control of Selfridges department stores across Europe, but is well-known for its flagship store in Oxford Street in London that was founded in 1908.
Central Group and the real estate tycoon Rene Benko’s Signa Group, bought Selfridges in 2021 in a deal worth $5 billion. However, Austrian co-owner Benko’s Signa faces a property crisis in Europe, which led to the tycoon handing over control of Signa to restructuring experts earlier in this month.
Central Group is owned by the fourth-richest billionaire in the country, the Chirativat family, according to Forbes. Central will gain control of the joint venture unit that was left by Signa, which also operates Brown Thomas & Arnotts in Ireland, and De Bijenkorf in the Netherlands.
