Thai Retailer Central Group Takes Majority Stake in Selfridges Amid Signa's Financial Crisis

Central Group Converts Loan into Equity, Extends Control to Other Department Stores

Thai retailer Central Group has become the majority shareholder of Selfridges, converting a €364m (£317m) loan into equity.
Central Group's acquisition follows financial turmoil at Signa, the Austrian investment group that previously held a 50% stake in Selfridges.
Signa's founder, Rene Benko, was forced out by shareholders amid the company's financial crisis.
Central Group's control extends to other department stores, including Brown Thomas & Arnotts in Ireland and De Bijenkorf in the Netherlands.
Selfridges' finance director, Matthew Smith, has stepped down and has been replaced by Preetha McCann, a partner at EY.