Central Group refutes reports on Selfridges purchase

Thai conglomerate Central Group has today refuted media reports that it has purchased Selfridges from the Weston family.

In a statement to the President of the stock exchange of Thailand, Yol Phokasub, Central Group CEO said: "Pursant to the Stock Exchange of Thailand’s request to Central Retail Corporation Public Company Limited for clarification regarding news stories by The Times and Brand Inside on 2 December 2021 reporting that Central Group is preparing to purchase Selfridges; the company would like to clarify that the company is not currently involved with the transaction reported in the news."

According to media reports in June, the Weston Family were reported to be considering a £4 billion sale of the business, which would include branches of Selfridges in Birmingham and Manchester, as well as Brown Thomas and Arnotts in Dublin.

According to The Times, which first reported the deal, the process could drag on until the end of the year but terms were agreed in the last few days. Selfridges declined to comment.

Central Group is a family-owned conglomerate that started in Bangkok but went global when the founder’s son, Samrit Chirathivat, opened Thailand’s first department store in 1956. It now has 3,700 shops around the world, from supermarkets to electronics outlets, and department stores in Europe, including the La Rinascente, Illum and KaDeWe chains.