Could London's two top luxury department stores end up with the same owner? That's the question being asked on Monday as it has emerged that the owner of Harrods is possibly front-runner to buy up-for-sale Selfridges.
Venerable US retailer Lord & Taylor filed for Chapter 11 bankruptcy on Sunday, becoming the latest in a growing list of storied names to do so amid the ongoing coronavirus outbreak that has crippled the retail sector.
As the Canadian retailer announced that it has completed its privatization transaction, it was also revealed that CEO Helena Foulkes will be stepping down, to be replaced by executive chairman Richard Baker.
Three leading proxy advisory firms have recommended that HBC shareholders vote in favour of the deal that would see a group led by the company’s executive chairman, Richard Baker, take the retailer private.
The department store operator has announced the postponement of a special meeting of shareholders involving a vote on the proposal to take the company private, raising questions about whether the deal will go ahead.
The Canadian owner of Saks Fifth Avenue announced on Monday that, following an extensive review process, it has entered into a definitive agreement with a group of shareholders to take the company private.
The retail chain announced on Tuesday that it has completed the sale of its remaining European real estate and joint ventures to Signa Retail, as the company seeks to focus its attention on its North American operations.