Brown Thomas and Arnotts are reportedly up for sale in €4.7bn Selfridges deal

An unnamed buyer has reportedly made the offer for the iconic department stores

Brown Thomas and Arnotts are reportedly up for sale as part of a deal alongside British department store chain Selfridges. Picture: Gerard McCarthy

Ireland’s iconic department stores Brown Thomas and Arnotts are reportedly up for sale as part of a deal alongside British department store chain Selfridges.

It is understood an unsolicited approach from an unnamed buyer has offered some €4.7bn (£4bn) for the Weston family-owned chain which comprises a number of upmarket stores across the UK, Ireland and the Netherlands.

First established by Harry Gordon Selfridge in 1908, the subject of a recent ITV period drama, Selfridges was acquired by the Canadian Weston family in 2003 for £598m.

According to a report in the UK’s Financial Times newspaper, Credit Suisse has been appointed adviser after the unsolicited approach, which is at an early stage and may not lead to a transaction.

Last year, another iconic department store on Irish streets, Debenhams, went bust resulting in 2,000 job losses across the Republic.