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It’s all over for Baugur as it falls into administration

Baugur, the Icelandic investment firm, went into administration this morning, casting uncertainty over its buy-out portfolio. The group has used about £750m of leveraged loans to take over UK retailers such as House of Fraser, Oasis and Jane Norman. Today’s move comes after Landsbanki, Baugur’s main bank, ended restructuring talks with the company. The portfolio might now fall into the hands of lenders.

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