House of Fraser safe after Landsbanki talks
 
Thu, 12th February 2009
 
 

House of Fraser safe after Landsbanki talks

Landsbanki has met with the HoF's management team and says it intends to hold onto its stake.

House of Fraser and Landsbanki issued a joint statement saying senior representatives of both companies have met and held very 'positive discussions'. Landsbanki stated that it had no plans to sell its 35 per cent share in Highland Group Holding, the Baugur-led consortium which bought House of Fraser for £351 million in 2006. Baugur's UK arm was placed into administration with PricewaterhouseCoopers after talks with Landsbanki over the group's £1 billion debt failed. It was initially assumed that the move would lead to a fire sale of Baugur's assets, which also include stakes in supermarket group Iceland, Hamleys, All Saints Mosaic.
 
 
category Retail  |  source The Retail Bulletin
 
   
 
 
 
 
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