As announced earlier, members of the Nordstrom family are seeking to take the company private. The family group owns 31.2% of the business and is looking for partners to fund the buyout of the 116-year old retailer worth around $8bn. Privatising the company would make it easier to invest in certain key areas such as e-commerce, the Nordstrom Rack off price chain and also to close underperforming stores. Interested parties include Leonard Green, Apollo Global Management, and KKR.