BusinessBusiness RecoveryTroubled Baugur seeks BDO’s help

Troubled Baugur seeks BDO's help

Troubled Icelandic retail group Baugur has called on BDO Stoy Hayward to advise on future action

Retail group Baugur is weighing up various
options for its future after talks last night with advisers
BDO
Stoy Hayward
, one of which is placing the UK holding company into
administration.

‘We are looking at various options,’ a Baugur spokesman told The Daily
Telegraph
.
‘The conversations [with BDO Stoy Hayward] are still at a very early stage.’

Sources close to the talks believe the best action for the group to take is
to place the UK holding company in administration, which would speed up the
rescue and refinance of the group’s separate businesses.

On Sunday, Jón Ásgeir Jóhannesson, Baugur chairman, warned the group’s
investment could ‘fall one after another’ unless it completed a deal with retail
billionaire Sir Philip Green to buy Baugur’s debt from the Icelandic banks and
government.

Further reading:

Read
The Daily Telegraph story

Related Articles

Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

1w Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

1w Emma Smith, Managing Editor
KPMG appoints new global head of insolvency

Business Recovery KPMG appoints new global head of insolvency

4w Emma Smith, Managing Editor
EY hired by Carillion to review finances

Accounting Firms EY hired by Carillion to review finances

5m Alia Shoaib, Reporter
Using insolvency as a debt recovery tool

Business Recovery Using insolvency as a debt recovery tool

6m Emma Smith, Managing Editor
UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

Business Recovery UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

8m Alia Shoaib, Reporter
Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

Business Recovery Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

9m Emma Smith, Managing Editor
FRP Advisory expands operation with new office, partner appointments

Accounting Firms FRP Advisory expands operation with new office, partner appointments

10m Emma Smith, Managing Editor