Popular toy store announces 29 store closures after profits take a hit

A classic British toy store announced that 29 stores were closed after the snow fell.

Founded in 1760, Hamleys has been operating for more than 265 years, and globally holds the Guinness world record for the oldest toy retailer.

Recognized British toy brand, Regent Street ‘Joy Emporium’ nicknamed seven floors of flocking tourists has become a London turning point.

Despite his success, Hamleys will close 29 of his stores during his last financial year and closed 40 stores 12 months ago.

Companies House data show that House profit has risen from £ 51.4 million to £ 53.3 million in the last financial year.

However, when examined more closely, income from England and Europe increased, while international branches decrease in income decreased from £ 7.3 million to £ 6.5 million.

The famous toy brand now has 11 stores in the UK and 176 branches worldwide.

It has not yet confirmed which branches will be closed or how many personnel will be affected.

Despite his success, Hamleys will close 29 of his stores during his last financial year and closed 40 stores in the previous 12 months.

In addition to the latest accounts published in December, Hamleys said: ‘England retail market is forced to enter 2025 as consumer expenditures continue to be affected by inflationary pressures.

As a result, we are cautious about business growth, constantly focusing on cost optimization to ensure the profitability of the company.

‘The company is trying to improve customer experience and suggestion in all formats to ensure the long -term sustainability of the business.

‘We continue to focus on determining opportunities for future growth, and applying a solid digital strategy is an important growth driving force for England in 2025.’

In 1760, William Hamley founded Hamleys in Cornwall and in England under the name of original Noahs Ark.

The small shop, which was so successful, would open a branch on Regent Street in 1881 and soon recognized as the world’s best toy shop.

Queen Mary ordered Hamles in 1938.

II. During World War II, Hamleys was bombed five times – but this did not prevent the staff from running to the store and delivering the toys at the door.

The famous toy brand has 11 stores in the UK and 176 branches worldwide. It has not yet confirmed which branches will be closed or how many personnel will be affected.

And when the Queen Elizabeth ascended the throne in 1952, she remembered her grandmother bought her from Hamleys and bought toys from the store for their own children.

Unfortunately, it is not the only street retailer that has to close Hamleys stores.

New Look, a clothing brand founded in 1969, will close 38 branches this year.

Hobbycraft, Whsmith and River Island are among the recognized high street stores that close their stores.