Signa’s wave of bankruptcies also has an impact on Selfridges Group.
The British luxury department store operator is said to be in talks with Thailand’s Central Group to negotiate future financing to pay off outstanding debts, according to a report filed with Britain’s Companies House by Selfridges’ holding company, Cambridge Properties.
The collapse of Signa, which Selfridges bought with Thailand’s Central Group for £4 billion last year, has put the department store operator under financial pressure. Although the Central Group increased its shares in the Selfridges Group in mid-November and became the majority shareholder, the insolvencies of Signa are still bringing the group, which, in addition to the retailer of the same name, also includes De Bijenkorf in the Netherlands and Brown Thomas and Arnotts in Ireland in a precarious situation.
Selfridges and Central Group are said to be in ongoing discussions about the structure and form of financing, but according to the Bloomberg news agency the extent of financial support is currently uncertain, although according to a spokesman for the group it is “unwavering”.
“This [Anm. d. Red.: die Insolvenz der Signa Prime Selection] “This does not change Selfridges’ situation,” a company spokesperson told Bloomberg. “Selfridges operates independently of its shareholders. We are pleased with Central Group’s continued and unwavering support.”