Icelandic Baugur In Administration
Baugur, the Icelandic investment group has gone into administration.
The company owns, or has stakes in, some major High Street names in the UK such as Hamleys, House of Fraser, Goldsmiths - the jeweller, Whistles - the fashion chain and Iceland the frozen food retailer. There are clearly a wealth of puns there. And that's before we even get started on the country electing the world's first openly gay PM at the weekend!
The company says it has applied for a moratorium to allow it to stop paying its creditors.
A company statement says that the moratorium involves the "Baugur Group and a number of its wholly owned subsidiaries" without going into specifics.
The company owns, or has stakes in, some major High Street names in the UK such as Hamleys, House of Fraser, Goldsmiths - the jeweller, Whistles - the fashion chain and Iceland the frozen food retailer. There are clearly a wealth of puns there. And that's before we even get started on the country electing the world's first openly gay PM at the weekend!
The company says it has applied for a moratorium to allow it to stop paying its creditors.
A company statement says that the moratorium involves the "Baugur Group and a number of its wholly owned subsidiaries" without going into specifics.