World famous toy trader Hamleys has made a £9.2m loss for the year up to 31st December. The year before that they made £1.7m.
They have put the blame for difficult trading down to Brexit and the potential terror threat.
Hamleys is the world’s oldest toy retailer and was forced to shut some of its branches recently. They ceased trading entirely across three markets – Sweden, Denmark and Norway.
“In the UK, 2017 was one of the most challenging years in UK retail history, and Hamleys was not immune to the impact of Brexit uncertainty, terrorist attacks, macroeconomic pressures and a general erosion in UK consumer confidence,” the firm said in accounts filed at Companies House.
Chief executive Ralph Cunningham said: “While our international franchise business experienced good growth, last year was one of the most challenging years in UK retail history,”
Since you are here
Since you are here, we wanted to ask for your help.
Journalism in Britain is under threat. The government is becoming increasingly authoritarian and our media is run by a handful of billionaires, most of whom reside overseas and all of them have strong political allegiances and financial motivations.
Our mission is to hold the powerful to account. It is vital that free media is allowed to exist to expose hypocrisy, corruption, wrongdoing and abuse of power. But we can't do it without you.
If you can afford to contribute a small donation to the site it will help us to continue our work in the best interests of the public. We only ask you to donate what you can afford, with an option to cancel your subscription at any point.
To donate or subscribe to The London Economic, click here.
The TLE shop is also now open, with all profits going to supporting our work.
The shop can be found here.
You can also SUBSCRIBE TO OUR NEWSLETTER .
