The directors of Baugur were out in force and in defiant mood last night to celebrate the opening of the new House of Fraser store in Westfield London.
Baugur chairman Jon Asgeir Johannesson and Baugur chief executive Gunnar Sigurdsson both attended the House of Fraser launch party - one of their first public appearances since the collapse of the Icelandic banking system earlier this month.
Johannesson and Sigurdsson joined House of Fraser chairman Don McCarthy at the launch of one of the most impressive stores within the Westfield London centre.
Speaking exclusively to Drapers at the event, Sigurdsson said that Baugur was waiting to see what happened with the Icelandic economy before a solution for the Baugur crisis could be found.
However Sigurdsson added: “This can’t go on for months and months.”
“We have 20 businesses. Some are in better shape than others but we are looking strong towards Christmas.”
See below for pictures of the House of Fraser store at Westfield London.