Green’s Bid to Save Hamley’s from Icelandic Meltdown

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Sir Philip Green has been in talks with Bauger, the Icelandic retail investor that owns Hamley’s and has significant holdings in House of Fraser among many other famous high street names.

With Iceland’s three largest banks now controlled by their government, Bauger has had its accounts frozen; leaving Baugur on the edge of collapse.

Green, who owns Topshop and Bhs among others, is to try and buy Bauger’s debt which may be in excess of £1bn. On Friday Bauger admitted that its insurance cover, on goods supplied to its shops, had been withdrawn or reduced by the insurer Coface.

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