World famous department store, Harrods, has been sold for a staggering £1.5 billion.
It is believed that Mohamed Al-Fayed, 81, has decided to part from his beloved empire as he wishes to spend more time with his family, and put his businesses on the back-burner.
Al-Fayed bought the store in 1985, and has since turned it in to one of the City's major tourist attractions. The Knightsbridge branch, which was founded in 1834, began life as a humble groceries shop, and has since flourished to cater for the City's elite.
The new owners, the Qatari Royal Family, are intending to keep the traditional department store exactly how it is, although it seems that Al-Fayed will still have some say in the running of the store as he has taken the role of honorary chairman. So it seems he can't completely let go of his precious empire.
The future of Fulham Football Club, another of Al-Fayed's assets, has not been revealed yet, however, it is rumoured that it may also be on the market soon, as the 81-year-old enters long- awaited retirement.
No comments:
Post a Comment