The Icelandic investment company Baugur has filed for bankruptcy Dagens Industri reports. The company’s protection from creditors was cancelled by a Reykjavik court on Wednesday.
Kristin Johannesdottir, chairwoman of the Baugur board says that the court’s decision is a disappointment for everyone in the organisation. She says that the company fulfilled all conditions for an extension but adds that they now have no other choice than to file for bankruptcy.
Up until the financial breakdown, Baugur controlled retail chains employing 50 000 people in the UK, Scandinavia and Iceland.
times article below link to Jon Asgeir “i’ll be back”
You got to give credit to the Icelandic family. They certainly support each other in hard times. This is a perfect example. Jón Asgeir’s sister has fallen on the sword for him. She will shoulder the responsibility while he attends another party.
[…] dier Berichte bei Retail Week, IceNews und IcelandReview (alle auf […]
the top management of BAUGER group should be send to exile and work the widerness in NORTH KOREA so from there they will never be able to scam the honest icelsndic people ther they can survive on rats worms with their corruption sins
[…] the Icelandic domain, Baugur files for bankruptcy. Farewell Jón Ásgeir, I wish you all the best too in your future undertakings and do not doubt […]