Baugur eyeing UK home
The Icelandic investment group that owns a host of British retailers including House of Fraser and Hamleys unveiled plans to relocate to the UK.
Baugur - which also owns supermarket chain Iceland and jeweller Goldsmiths - is seeking to switch its headquarters from Reykjavik to London.
The move is part of a group restructuring that involves focusing mainly on its UK assets, which make up 85% of the portfolio.
Baugur completed the sale of its remaining Icelandic assets, which include the cut-price Bonus supermarket chain founded in 1989. That company's success led to the formation of the investment group in 2002 and its subsequent international expansion.
A spokeswoman for Baugur said: "We are investigating how best to move the headquarters to London. We no longer have any Icelandic assets and 85% of the portfolio is based in London, so it makes sense to be based here."
Any move has to be agreed by the group's board.
The announcement comes two months after the upholding of a book-keeping conviction for Baugur's chairman and co-founder, Jón Ásgeir Jóhannesson. The 40-year-old was originally found guilty of the offence last year.
He reportedly faces being banned as a director in Iceland as a result of the legal ruling.
Baugur's other UK assets include jeweller Mappin & Webb, and tea and coffee seller Whittard of Chelsea. It also owns a stake in US retailer Saks department stores.
