• 09/21/2014 - 14:52
    Dear Janet; If I may be so forward, as a concerned citizen of the Constitutional Republic of the United States, it is with great consternation that I feel compelled to write you this distressing...

Baugur

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Frontrunning: December 18





  • Obama Concessions Signal Potential Bipartisan Budget Deal (BBG)
  • Cerberus to sell gunmaker after massacre (CNN)
  • With New Offers, Fiscal-Cliff Talks Narrow (WSJ)
  • Judge rejects Apple injunction bid vs. Samsung (Reuters)
  • U.S. policy gridlock holding back economy? Maybe not (Reuters)
  • President fears for Italy’s credibility (FT)
  • Struggles Mount for Greeks as Economy Faces Winter (WSJ)
  • Abe leans on BoJ in post-election meeting (FT)
  • Bank of Japan to mull 2 percent inflation target as Abe turns up heat (Reuters)
  • EU exit is ‘imaginable’, says Cameron (FT)
  • Mortgage Risk Under Fire in Nordics as Bubbles Fought (BBG)
  • Sweden cuts interest rates to 1% (FT)
  • External risks impede China recovery, more easing seen (Reuters)
 
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Baugur Group Files For Bankruptcy





In shattering many an LBO investor's dreams, who had been waiting and waiting for Baugur to buy luxury retailer Saks (another company that could make headlines here in the not too distant future), the Icelandic retail roll-up will not be LBOing anyone any time soon, as today it finally caved and filed for bankruptcy. Baugur, whose investments include London toy-store Hamley's and a partial stake in Debenhams and Saks, has disclosed debts which exceed its assets by $1.3 billion.

 
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