By  on October 15, 2008


LONDON — As Sir Philip Green continues to negotiate with the Icelandic government to buy a chunk of Baugur Group’s debt, the Icelandic investment company issued a statement Tuesday insisting its businesses won’t file for bankruptcy.

On Tuesday, British press reports said the company, whose retail businesses in the U.K. include Whistles, Karen Millen and All Saints, was set to appoint the U.K. administrator BDO Stoy Hayward. Administration is the U.K. equivalent of Chapter 11. Alongside its investments in several U.K. specialty retailers, Baugur holds stakes in the department store chain House of Fraser and designer brands Matthew Williamson and PPQ, and an 8.6 percent stake in Saks

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