Is Icelandic Tycoon Planning London Comeback? Skip to content

Is Icelandic Tycoon Planning London Comeback?

Icelandic businessman Jón Ásgeir Jóhannesson, former CEO and chairman of the now defunct conglomerate Baugur Group which had shares in a number of stores on the London high street, is allegedly planning a comeback with new budget chain stores.

Jón Ásgeir Jóhannesson. Photo by Páll Stefánsson.

According to The Telegraph on Friday, Jóhannesson is planning to launch stores in London under the name of Best Price, supposedly his version of the budget chain stores Kwik Save, which is already established on the UK market, reports.

The Telegraph states that the main supplier for Jóhannesson’s stores will be Booker, a company in which Baugur used to hold a large stake.

Best Price Foods is registered at 413 Oxford Street, to the same address as Watches of Switzerland, which used to be in Baugur’s ownership.

When Fréttabladid approached Jóhannesson with these claims he denied that he was planning to launch budget chain stores in the UK market.

Click here to read other recent news about Jón Ásgeir Jóhannesson.

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