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Baugur head office staff axed

Nearly all of the head office staff at retail investment firm Baugur are expected to be made redundant today.

It is understood that Baugur administrators PricewaterhouseCooper (PwC ) will tell the majority of Baugur’s head office staff they no longer have their jobs later today.

According to reports Baugur chief executive Gunnar Sigurdsson, chairman Jon Asgeir Johannesson and Andrew Lobb, managing director of legal and operations, will keep their jobs.

Baugur and PwC were both unavailable for comment.

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