Baugur: ‘We were hit by a hurricane’

If Baugur’s rise epitomised the pre credit-crisis world – easy money, ambitious plans, and a young management team doing in four years what previously would have taken 40 – then its demise is the grim new world order made manifest.

Gunnar Sigurdsson, Baugur’s chief executive, arrives in the emptiness of the Mayfair office. Along with Jon Asgeir Johannesson, Baugur UK’s chairman, Mr Sigurdsson built the company up. He is dressed in jeans, clutching a Starbucks and looking exhausted.

He starts to explain where it all went wrong. “Basically, we were hit by a hurricane,” he said.

From the Sunday Telegraph

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1 Response to “Baugur: ‘We were hit by a hurricane’”


  1. 1 Alex March 16, 2009 at 4:08 pm

    Really!?!?!?


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