Nordstrom family bids to take chain private

Traditional business: A Nordstrom department store in the United States. Nordstrom’s annual revenue numbers are still lower than before the pandemic. — AFP

NEW YORK: The Nordstrom family is looking to take their namesake department store chain private in a proposed US$3.8bil 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.