Hamleys reiterates independent status - ToyNews

Hamleys reiterates independent status

Retailer issues statement following yesterday's news that Baugur has filed for bankruptcy.
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The statement outlines that Hamleys is a standalone business and as when Baugur's UK arm went into administration, the firm will continue to trade as normal, unaffected by shareholder ownership.

The statement said:

"Following yesterday’s news that Baugur Group in Iceland have filed for bankruptcy, Hamleys would like to clarify that this has no impact whatsoever on its business.

"Baugur’s UK arm, which owns shares in Hamleys, was already placed into administration by Landsbanki in early February, as was reported at the time. Neither event has had, or will have, any impact on Hamleys ability to trade.

"Any shareholder ownership issues are merely that and do not effect Hamleys as a business, primarily because Hamleys requires no funding from shareholders. Hamleys continues to operate successfully as a self-funded, standalone business with no shareholder funding requirement for either short term operations or long term development."

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