After months of speculation, the sale of famous toy retail Hamleys is expected to complete within weeks. The negotiations to sell the business have advanced ad a relative of Yuan Yafei, the billionaire owner House of Fraser, is looking to purchase the retailer. French owner Ludendo has owned Hamleys for less than three years, buying it from failed Icelandic bank Landsbanki for £60m in 2012. Hamleys currently has 10 UK stores and more than 40 internationally – its international growth has been a focus in recent years under Chief Executive Gudjon Reynisson. Hamleys has increased competition from The Toy Store, which open its first UK store after establishing itself in the Middle East.