Icelandic investment group denies administration rumours

The Icelandic investment group that owns a host of retailers including Hamleys today denied it was looking at placing its UK business into administration.

Baugur, which also owns high street retailers such as Karen Millen and Oasis, said it had not appointed advisers after reports suggested it had lined up BDO Stoy Hayward to look at a possible administration to speed up a rescue deal.