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C.banner explores Hamleys sales as accounts foresee ‘return to profit’

Hamleys owner C.banner International is exploring options and several expressions of interest in the sale of the iconic toy retailer.

The Chinese business bought the British retailer just three years ago, but is now reportedly exploring options for a takeover from unnamed parties. Sources have said that talks were at a preliminary stage and could lead to a formal sale process.

This could make for the fourth new owner for Hamleys in 15 years. Vermillion Partners has been appointed to handle discussions with potential bidders.

Hamleys recently revealed that for the year to December 31st, 2017, profits swung from £2.6 million to a £12 million loss, while revenues fell 2.5 per cent to £66.3 million.

Hamleys has said, however, that current trading was on an improving trajectory, with 2.7 per cent UK like for like sales growth in the first eight months of 2018.

Accounts added that Hamleys was “on track to return to net profitability in the next 12 months.”

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