Stodir, the company controlled by Baugur executive chairman Jon Asgeir Johannesson, has been raided by tax investigators.
Stodir, which was previously called FL Group and which has co-invested alongside Baugur in retailers including Debenhams, French Connection and Moss Bros via its Unity investment vehicle, confirmed to The Financial Times that three years of companies accounts were removed from its Reykjavik headquarters.
Stodir said: “Stodir’s management and employees have given the officials all the requested information and will do everything to help the Directorate of Tax Investigations in Iceland.”
Stodir fell in to administration in September after the Icelandic government diluted shareholders in Glitnir bank after it took a 75 per cent stake. Stodir was the bank’s lead investor and the part-nationalisation of Glitnir contributed to the Icelandic banking collapse.
Johannesson was barred from being a director to Icelandic companies after a conviction for book-keeping offences was upheld earlier this year.
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