The news that one of the UK's three largest credit insurers, Coface, has withdrawn cover for suppliers of a number of Baugur-backed retailers has drawn UK food retailer Iceland's financial security into the spotlight.

"We have reviewed the Baugur investments and withdrawn cover for the suppliers of some retailers backed by Baugur," a spokesperson for Coface told just-food today (10 October).

However, the insurer said it would be "inappropriate" to reveal which retailers it has concerns about and declined to comment on the status of Iceland.

Baugur is a minority shareholder in the frozen food specialist.

Iceland declined to comment at time of press.