Thai investor increases stake in Brown Thomas and Arnotts amid co-owner’s financial crisis

Central Group takes control of Selfridges group as Australian billionaire Rene Belko - who co-owns the retail giant - faces significant cash-crunch

Thailand’s Central Group has become majority owner of Selfridges, Brown Thomas and Arnotts after taking equity in the department store giant from its crisis-hit co-owner.

The move comes after reports that a stake in Selfridges group could be sold.

Last year, the billionaire Weston family completed the roughly £4 billion sale of its retail portfolio to a joint venture comprising Central and Austrian property firm Signa.

However, the future of the venture became uncertain after ...