Fire can spread extremely quickly within structures. To prevent this, fire doors or fire shutters are usually installed. However, security aspects of such doors or shutters are not renown. An attempt to alleviate this problem may be provided by an insulated fire panel shutter including a guide, adapted to receive a shutter and having one or more retractable members moveable between a retracted and extended position; a shutter, moveable between an open and closed position and formed from a plurality of panels each of which is moveable between a stowed and deployed position; their arrangement being such that as the guide receives the shutter during shutter closure, the panel arrangement alters from a stowed side by side relationship to a deployed stacked end to end relationship.