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Baugur, the Icelandic group that holds stakes in British high street retailers such as House of Fraser and Hamleys, fell into the hands of its creditors today after failing to reach an agreement over more than £1bn of debt. The collapse of the Icelandic investment group, which also has stakes in Iceland, Debenhams, French Connection, Karen Millen and Goldsmiths, could spark a major shakeup on the high street.
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