What: Central Group has reaffirmed its commitment to supporting its European luxury stores, including KaDeWe and Selfridges, regardless of the situation with Signa.

Why it is important: The ongoing support from Central Group provides stability and optimism for the future of Selfridges and KaDeWe.

Signa is reportedly facing difficulties due to rising interest rates, plummeting real estate values, and poor management.

Central Group and Signa jointly acquired Selfridges two years ago for a reported GBP 4 billion, splitting it into a property business and a retail business. Selfridges and KaDeWe have stated that their businesses will not be affected by Signa's troubles and that they have the full support of Central Group. It remains uncertain if Signa will sell its 50 % stake in Selfridges and if Central Group will purchase it.

Central Group vows to back luxury properties amid Signa scandal