What: Selfridges could be put up for sale as co-owner Signa Group faces a cash crunch.

Why it is important: The potential sale of Selfridges due to co-owner Signa Group's financial crisis highlights the significance of economic challenges faced by retail businesses and the potential impact on iconic department stores.

Signa, which acquired Selfridges along with Central Group last year, has called in restructuring experts to raise money amid a financial crisis. It is believed that Signa's stake in Selfridges might be auctioned, with Central Group being the most likely buyer. Signa and Central Group jointly own department store businesses such as Rinascente in Italy and KaDeWe in Germany.

Signa's expansion plans have been hindered by rising borrowing costs and falling property valuations, leading to the halting of construction on the Elbtower in Hamburg. Frasers Group's acquisition of SportScheck from Signa is also in question as the retailer teeters on the brink of collapse.

Selfridges, however, states that its operations are independent of any support from shareholders and remains focused on providing an exceptional Christmas shopping experience.

Selfridges co-owner Signa faces financial crisis