Harrods store sold to Qatar Holdings

Harrods Department Store has been sold to Qatar Holdings. The deal has been finalized with about 1.5 billion pound.  The Harrods owner Mr. Mohammed Al Fayed had declared that he has sold the store to Qatar Holdings.

They have signed such a deal both the firms had announced the fact officially. Mr. Al Fayed had purchased the Harrods in the year 1985 by paying 615 million pounds. Now he has been able to get a huge amount for the same from the Qatar Holdings.

However, he has denied commenting on why he has decided for this sale. Only thing he has revealed that he will remain a part of the company but will not involve in the management part.

Harrods has also had very interesting story behind it. In the mid 1980s there was a huge controversy over the ownership of the store between Mr. Al Fayed and late businessman Mr. Tiny Rowland. Then Mr. Rowland had accused Al Fayed of breaking a safety deposit box of the store.

But Al Fayed had managed to tackle all the issues and became the lone owner of the huge firm.