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Hamleys SA toy chain saved

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New owners aim to recapitalise and stabilise the business, while former owner faces fraud charges.

Christmas has come early for Hamleys South Africa – the local franchise operations of the world’s oldest toy store chain – as it has been saved through the business rescue process after facing closure earlier this year.

A new black empowered company called Antares is set to take over Hamleys South Africa, effectively recapitalising the business and saving some 140 jobs. Antares is backed by two independent Joburg-based family-owned retail groups, Osbro Home and Rand Outfitters.ecapitalise and stabilise the business, while former owner faces fraud charges.

Source: MoneyWeb 19 Nov 2019

Read the article here:
https://www.moneyweb.co.za/news/companies-and-deals/hamleys-sa-toy-chain-saved-by-business-rescue/

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