Nordstrom announced it will become a private company following a $6.25 billion buyout deal with its founding family and Mexican retailer El Puerto de Liverpool. The Nordstrom family will hold a 50.1% majority stake, while Liverpool will own 49.9%. Shareholders will receive $24.25 per share. CEO Erik Nordstrom expressed excitement about this new chapter, emphasizing the company’s commitment to customer satisfaction. This is not Nordstrom’s first attempt at privatization; a previous effort in 2018 failed. The retailer faces challenges as luxury goods demand declines amid shifting consumer sentiments. Nordstrom operates over 350 locations, having started as a shoe store in 1901.
