Consumer
Nordstrom Family Bids to Take Chain Private for $3.8 Billion
- Family joined by Mexican department store chain Liverpool
- Company has struggled as shoppers flock to cheaper stores
This article is for subscribers only.
The Nordstrom family is looking to take their namesake department store chain private in a proposed $3.8 billion deal.
Erik and Peter Nordstrom, the great grandsons of founder John Nordstrom, and executives at the company, said on Wednesday that they formed a group with other family members and the Mexican department store chain El Puerto de Liverpool, which took a stake in the company two years ago. Liverpool owns around 9.6% of Nordstrom’s shares, according to a regulatory filing. Together with the Nordstrom family, the group holds 43% of shares, the filing said.