The sale of iconic toy store Hamleys sale to a Chinese buyer is likely to be completed within a matter of weeks.
Following months of speculation, latest reports suggest that Hamleys’ French owner Ludendo is now in advanced negotiations to sell the business, talks that are now expected to end in a purchase within the next few weeks.
The Sunday Times claims at the other end of these talks is a relative of Yuan Yafei, the billionaire owner of House of Fraser.
Speculation over the possible sale of Hamleys has been rife for several months, and it was originally thought that Yafei himself would make the purchase.
Ludendo bought Hamleys from the Icelandic bank Landsbanki for £60million in 2012.
Hamleys now has ten stores across the UK and more than 40 overseas, where international expansion has been a focus for the group in recent years.