Expert to take over Merlin stores

REYKJAVIK, Iceland, Nov. 3 (UPI) -- Expert Electronics said Monday it would take over failing Icelandic retailer Merlin, which fell victim to Iceland's financial woes.

Expert said it had agreed to honor warranties for items sold by Merlin stores, but not its gift certificates, the Copenhagen Post reported Monday.

Merlin's stores would reopen as soon as next week, the Post said.