Arnotts and BT owner turns to Asian parent for more cash

The potential cash crunch at Selfridges is just one element of the fallout from the rapid collapse of the Signa empire

Selfridges, which also owns Arnotts and Brown Thomas, is asking its Asian parent for more cash.

The company that owns Selfridges, which includes Arnotts and Brown Thomas department stores, is asking its Asian parent Central Group for more cash due to the insolvency of its bankrupt minority owner Signa.

Cambridge Properties is in discussions with Thailand's Central Group for future financing to meet upcoming debt payments, according to accounts filed this week. The co-owner, Austria's Signa Prime Selection, filed for insolvency on Thursday.