Report: Hamleys close to being sold for £60m

Dominic Sacco

By Dominic Sacco

July 9th 2012 at 11:39AM
Report: Hamleys close to being sold for £60m

French toy retailer puts forward bid to purchase long-running firm.

Groupe Ludendo is hoping to buy Hamleys in a supposed deal worth £60 million.

The toy retailer – which has stores in France, Belgium, Switzerland and Spain – could purchase Hamleys by the end of the month, claims The Sunday Times, as reported by FT.com.

Hamleys was previously sold to Icelandic retailer Baugur in June 2003 for £58.7 million. It is currently controlled by nationalised Icelandic bank Landsbanki, although Hamleys is being supervised by a committee which reportedly hopes to return sale proceeds to Landsbanki’s creditors.

Last year Hamleys reported turnover of £43 million. Its flagship Regent Street store first opened in 1881.

Ludendo was founded in 1977. In 2006 it acquired Swiss toy retailer Franz Carl Weber.

Picture credit: ITN

 

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