Brown Thomas-Arnotts sale looks closer as Thai buyer linked to owner

It has been heavily suggested that Central Group – a Thai conglomerate run by the Chirathivat family – has emerged as a buyer of the Selfridges Group

A Thai conglomerate has, reportedly, emerged as a likely buyer of the Selfridges Group, which owns the Brown Thomas and Arnotts stores here.

The sale of iconic Irish department stores Brown Thomas and Arnotts appears to have moved closer with speculation rife that owner the Weston family may have found a buyer for its Selfridges group of businesses.

The group owns the eponymous London department store; Brown Thomas and Arnotts here; Dutch store De Bijenkorf and Holt Renfrew in Canada.

It has been heavily suggested that Central Group – a Thai conglomerate run by the Chirathivat family, one of Asia’s wealthiest – has emerged as a buyer of the Selfridges Group, but it is understood that reports that the Weston family has formally agreed sales terms may be premature.

When contacted, a spokesperson for Brown Thomas-Arnotts declined to comment.

While presumed, it also remains to be seen whether all stores within the Selfridges Group are ultimately sold.

The potential sale of Brown Thomas and Arnotts gained traction in the summer, when the Westons received an unsolicited approach for the Selfridges Group from an unnamed buyer. That led the family to consider a sale and, in July, it appointed Credit Suisse as sales adviser to scout for wider interest, with a reported €4.7bn price tag on the business.

The Selfridges Group is owned by the Canadian wing of the Weston family, with the UK-based side of the family controlling the Associated British Foods conglomerate, which ultimately owns another iconic Irish fashion retailer in Primark/Penneys.

It was reported, in the summer, that the hope was to sell the Selfridges business by the end of this year, although there had also been the understanding that the Weston family might still decide not to sell.