Baugur Group, the Icelandic conglomerate with global holdings, put its chilly homeland on the map. However, Iceland's financial crisis pushed the company and its holdings in moratorium, or bankruptcy protection, in February 2009.
Historically, the company has invested in real estate and media ventures, but pared down its focus to retail after completing a restructuring plan in 2008.
The company owns stakes in several retail companies (85% of which are in the UK) including French Connection, Mosaic Fashions, Iceland Foods, and Hamleys. Baugur also holds a 8.5% stake in Saks Fifth Avenue.
-It emerged in October 2008 that BDO Stoy Hayward was advising Baugur on restructuring and that Philip Green, the owner of Bhs and the Arcadia Group had travelled to Iceland for negotiations regarding him making an investment in Baugur, amid reports the group was on the brink of collapse
-On 4 February 2009, Baugur applied for protection from its creditors after restructuring negotiations with Landsbanki broke down. The bank also applied for Baugur's UK arm to be put into administration.