It has been widely reported that department store Selfridges has been put up for sale, which could net its Canadian billionaire owners as much as £4bn.

Sky News has reported that "The department store chain reportedly attracted bid interest last month, prompting the Weston family to order a formal auction process."

Advisers at Credit Suisse will be leading the sale, which they hope to complete by the end of the year following talks with interested parties. 

Selfridges, which has 25 stores worldwide including its flagship store in London's Oxford Street, also incorporates the Brown Thomas and Arnotts brands in Ireland.