A group of key owners in Icelandic retail giant Hagar have made a deal with Arion Banki to keep a share of the business, despite its having been insolvent and taken over by the bank. Read the full story
Posted on 24 November 2011.
A group of key owners in Icelandic retail giant Hagar have made a deal with Arion Banki to keep a share of the business, despite its having been insolvent and taken over by the bank. Read the full story
Posted in Business, General, Iceland, MBLComments (0)
Posted on 31 August 2010.
The co-founder of Iceland’s Bonus supermarkets, Johannes Jonsson, has been removed from the board of Hagar following a decision by Arion Bank that both parties’ best interests are no longer served by working together. Read the full story
Posted in Business, Faroe Islands, General, Iceland, MBLComments (3)
Posted on 15 June 2010.
The cost of food has stayed roughly the same in Iceland for the last ten months, according to a survey by Stod 2 television. Some products in the “general food basket” have become cheaper; but cod liver oil and cucumbers have increased the most. Read the full story
Posted in Business, General, Iceland, MBL, SocietyComments (0)
Posted on 19 March 2010.
Jon Asgeir Johannesson, the former boss of now-bankrupt Baugur Group is preparing to open a three-store chain of low cost supermarkets in London. Read the full story
Posted in Business, General, Iceland, MBL, United KingdomComments (13)
Posted on 20 February 2010.
The Reykjavik District Court has ordered Hagar to pay ISK 315 million in fines for abuse of market position. Read the full story
Posted in Business, General, Iceland, MBL, SocietyComments (7)
Posted on 06 February 2010.
Iceland’s Arion Banki has decided to list retail giant Hagar on the Reykjavik stock exchange as a public listed company. Read the full story
Posted in Business, General, Holland, MBLComments (3)
Posted on 22 November 2009.
Immigrants who will not or cannot integrate effectively into Danish society are set to receive a handout, if they are willing to leave for home. Read the full story
Posted in Culture, Denmark, International, MBL, Politics, Society, TravelComments (9)
Posted on 15 November 2009.
Icelandic businessman and political campaigner, Jon Gerald Sullenberger promised last December to open a new low cost supermarket in Iceland to rival Bonus. The new store opened yesterday under the name Kostur – but it was not an easy birth. Read the full story
Posted in Business, Iceland, MBL, PoliticsComments (1)
Posted on 02 November 2009.
It now seems extremely likely that New Kaupthing will take a 40 percent share in Hagar, the company behind Iceland’s biggest supermarkets and fashion retailers, and that Jon Asgeir Johannesson and other investors will be allowed to keep 60 percent by investing ISK 7 billion. The action will free Hagar’s current mother company from debt and remove it entirely from the picture. Foreign creditors will most likely bear the brunt of the ensuing multi-billion krona losses. Read the full story
Posted in Business, Iceland, International, MBL, SocietyComments (9)
Posted on 30 October 2009.
Johannes Jonsson, one of the owners of Hagar which owns, among others, Iceland’s Bonus, Hagkaup and 10-11 supermarkets, told Stod 2 News that the company owners have not lost control. He said that they are currently refinancing the group and have at least a few more weeks to successfully complete the process. Read the full story
Posted in Business, Iceland, MBL, Politics, SocietyComments (6)
Iceland central bank holds rates, predicts ongoing economic growth
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