Retail

The company has said it is it expand on its plans to build stores in temporary locations over the upcoming Christmas period, to also include 50 Toy City locations.

Retail buyer veteran, Dawn Henry has been appointed to the role of vice president with the remit of accelerating the division’s growth.

6,000 jobs will now be axed as the department store chain escaped administration.

The Australian arm of the US chain has 44 stores across the country and employs around 700 people. All will be closed over the coming weeks.

The event has seen exponential growth over recent years, seeing more than 70,000 families and fans of LEGO unite to celebrate their love of the plastic brick.

Hornby has seen a revenue fall of 25 per cent to £35.7 million in the 12 months to March 2018.

It’s the boldest acknowledgment yet of the company’s struggles in the changing retail landscape, seeing more sales and custom lost to digital downloads and online trading.

The warning follows recent reports that high street retailer New Look tried to cut the rent of one its sites, but then allegedly offered to pay more after a decision was made to cancel the lease.

Yesterday it was revealed that having faced several headwinds including strong competition and inflation, the retailer had appointed administrators to enter its next phase.

If the plan is approved, 2,000 House of Fraser jobs will go, along with 4,000 brand and concession roles.