An Icelandic court will decide today whether to extend battered investor Baugur’s moratorium.

Baugur, which held stakes in big high street chains including department store group House of Fraser, frozen food specialist Iceland and fashion group Mosaic – now Aurora – entered a moratorium last month after its UK division went into administration.

If Baugur’s moratorium is not extended the investor could file for bankruptcy or make an immediate offer to unsecured creditors, The Daily Telegraph reported.