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

Iceland’s Arion Bank has today advertised the convenience store chain 10-11 for sale. The bank has owned the chain since it took over the bankrupt estate of Hagar. Read the full story

Arion Bank says it intends to split the 10-11 chain of convenience stores from the estate of Hagar and sell it off. It is not anticipated that other retail chains within the Hagar group will be sold separately. Former Hagar owners Jon Asgeir Johannesson and his father Johannes Jonsson will explicitly not be allowed to buy 10-11. Read the full story

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

The Reykjavik District Court has ordered Hagar to pay ISK 315 million in fines for abuse of market position. Read the full story

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

Representatives of a large investment group wishing to buy Iceland’s Hagar retail business say they have been locked out, claiming to be disappointed on behalf of the man on the street. Read the full story

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