{"id":227694,"date":"2023-03-01T10:10:56","date_gmt":"2023-03-01T10:10:56","guid":{"rendered":"https:\/\/www.theindustry.fashion\/?p=227694"},"modified":"2023-03-01T20:48:51","modified_gmt":"2023-03-01T20:48:51","slug":"selfridges-new-owners-rack-up-1-7-billion-of-debt","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/selfridges-new-owners-rack-up-1-7-billion-of-debt\/","title":{"rendered":"Selfridges\u2019 new owners take on extra \u00a31.7 billion of debt"},"content":{"rendered":"
Central Group<\/a> and Signa Holding<\/a>, the Thai and Austrian owners of Selfridges<\/a><\/span>, take on extra \u00a31.7 billion of debt in a strategy that could significantly increase investment returns.<\/strong><\/p>\n The London branch of Bangkok Bank has provided the loan, secured against the freehold of the retailer\u2019s London flagship department store. Selfridges said the loan was provided to \"release capital\" for the acquisition, but that this did not amount to the payment of a dividend to its new owners.<\/p>\n Another large loan, the size which has been redacted in corporate filings, has been provided by Swiss lender EFG Bank and secured against Selfridges\u2019 Exchange Square location in Manchester city centre.<\/p>\n The Selfridges Group portfolio, which comprises 18 stores under four names; Selfridges in England, Brown Thomas and Arnotts in Ireland and De Bijenkorf in the Netherlands, was last year integrated with Central and Signa's combined existing portfolio of 22 luxury department stores.<\/p>\n