×
142
Fashion Jobs
SAROJ JALAN
Marketing Strategist
Permanent · KOLKATA
ADD UR CO LLP
Production Manager
Permanent · Chennai
THE GLOBAL ZONE HR SERVICES
Production Manager/ Supervisor/ Incharge
Permanent · Pune
PUMA
Manager - Digital Marketing
Permanent · Bengaluru
THE BANYAN HR CONSULTS
Brand Manager For Leading Women's Wear Garments CO at Coimbatore
Permanent · Coimbatore
LEVI'S
Manager, Retail Merchandising (Ebo)
Permanent · Bengaluru
GLAN MANAGEMENT CONSULTANCY
Senior Buyer Lingerie (Knits Western Wear) - Retail Brand
Permanent · GURUGRAM
JOB INDIA
Asst. Manager E-Com Operations (Garments Retail) Gurgaon
Permanent · Faridabad
VASTRAKALA EXPORTS
Quality Manager
Permanent · CHENNAI
PEOPLE ALLIANCE WORKFORCE PRIVATE LIMITED
Manager / in Charge - Production/Quality/Cutting - Garments Industry
Permanent · Bhiwandi
MINT AND MILK COMMUNICATIONS
Senior Account Executive
Permanent · MUMBAI
PUMA
Manager- Buying (Apparel)
Permanent · Bengaluru
PUMA
Manager- Business Intelligence
Permanent · Bengaluru
PUMA
Manager- Trade Compliance
Permanent · Bengaluru
PUMA
Manager- Supply Planning
Permanent · Bengaluru
PUMA
Senior Manager - Performance Marketing- Marketplac…
Permanent · Bengaluru
PUMA
Regional Sales Manager- Mbo (South)
Permanent · Bengaluru
PUMA
Manager- Returns And Spf Operations
Permanent · Bengaluru
PUMA
Manager Merchandising
Permanent · Bengaluru
PUMA
Project Manager- Operations
Permanent · Bengaluru
PUMA
Manager- Logistics Operations
Permanent · Bengaluru
PUMA
Warehouse Manager-D2C
Permanent · Bengaluru
By
AFP
Published
Mar 11, 2009
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Iceland retail investor Baugur headed for liquidation

By
AFP
Published
Mar 11, 2009

REYKJAVIK, March 11, 2009 (AFP) - Icelandic retail investor Baugur, which has stakes in a number of British high street stores, is headed for liquidation after a court on Thursday March 5 rejected its request for financial restructuring.


Baugur - spring-summer 2009

"It is the conclusion of the court that the debtor's plan of action is not realistic and thus not likely to lead to the reorganisation of finances ... and therefore (Baugur's) request is denied," the Reykjavik court said.

Last month, the court had approved Baugur's request for bankruptcy protection, enabling it to temporarily suspend payments and protect the group's assets as well as the interests of all creditors.

Companies in which Baugur has investments employ 50,000 people worldwide, and include British toy store Hamleys, frozen food retailer Iceland, fashion label All Saints, department store Debenhams as well as clothing stores Oasis, Principles, Warehouse, French Connection and House of Fraser.

The company has been hit by the meltdown of Iceland's financial sector, which crumbled in October and pushed the government to nationalise the major banks as the currency nosedived.

A significant share of Baugur's debts are owned by companies now in financial difficulty.

One of the nationalised banks, Landsbanki, which owns most of Baugur's Icelandic debt and had been tasked with helping it restructure its finances, said in early February its efforts had failed.

In addition, in December the heads of Baugur were charged with tax evasion amounting to 2.4 million dollars (1.9 million euros) between 1998 and 2003.

Copyright © 2022 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.