Encoding multiple filenames in a single variable

[Jon Seymour]

This isn't strictly a bash question, and I'd prefer a POSIX-only
solution if possible [ suggestions as to a good question to ask
POSIX-only questions would be appreciated ].

Suppose I need to encode a list of filenames in a variable and each
filename may contain spaces, what is good way to encode such a list so
that the resulting variable is readily compose-able and decodeable? In
particular, I'd like to avoid the use of (unescaped) separators which
might themselves be used in the filename.

jon.