More problems on the High Street today as Icelandic investor Baugur asks for protection from its creditors.
Baugur has stakes in a number of high street chains including House of Fraser, Hamleys, and frozen food chain Iceland as well as stakes in fashion chain Whistles and jeweller Goldsmiths.
It is thought to employ 50,000 people in business' connected.
The group has entered a "moratorium" process in Reykjavik a similar roceedure to American Chapter 11 which offers protection from creditors.
It will now have three weeks to find a way forward.What is worrying for the UK is that one of those way forwards could well be a fire sale of its UK assets.
The group owes its creditors around £1b
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