Former Baugur boss Jon Asgeir Johannesson hopes to make a UK comeback and is interested in buying into small companies.

Johannesson, who faces trial in his native Iceland on charges relating to a loan from one of the country’s failed banks, Glitnir, has recently taken a 25% stake in Muddy Boots, a British producer of burgers.

Now Johannesson is looking for more such investments, but not on the same scale as the high-profile Baugur deals which included toy retailer Hamleys and department store group House of Fraser.

He told the Financial Times: “I’m just looking at some smaller special things, mostly in the UK.

“I’m definitely not in the same field capital-wise. But it’s good to be involved. People are always coming with ideas and I’m trying to get things rolling.”

Johannesson told the newspaper he was innocent of the charges against him, and said he was a victim of a vendetta by Icelandic authorities.

Baugur collapsed in 2009 amid the financial crisis. At the time it owned swathes of the high street including Oasis-owner Auora fashions - then called Mosaic - jewellery group Aurum, Hamleys and House of Fraser.