Reliance Industries to Dissolve UK Step-Down Subsidiary Hamleys (Franchising)

Reliance Industries has announced that its UK step-down subsidiary, Hamleys (Franchising) Ltd, is undergoing a voluntary strike-off process. The entity, which reported a nil net worth at the end of December 2025, will be officially removed from the UK Register of Companies following a gazette notice.

Reliance Industries Ltd announced on Thursday that its step-down subsidiary, Hamleys (Franchising) Ltd (HFL), is in the process of being dissolved following a voluntary strike-off application.

According to a regulatory statement issued by Reliance Industries, the UK Register of Companies published a gazette notice stating that HFL will be removed from the register and dissolved within at least two months from October 27, 2026, unless cause is shown to the contrary.

Financial disclosures from Reliance Industries indicate that Hamleys (Franchising) recorded a turnover of Rs 56.08 crore in the calendar year 2025. Its contribution to the parent company's consolidated turnover for the financial year 2025-26 stood at 0.0048 per cent. Additionally, RIL stated that the subsidiary held a nil net worth as of December 31, 2025.

Reliance Brands Ltd, a subsidiary of Reliance Industries, originally acquired the historic British toy retailer Hamleys in July 2019. The all-cash deal, valued at GBP 67.96 million (approximately Rs 620 crore), involved purchasing 100 per cent of Hamleys Global Holdings Ltd from Hong Kong-based C Banner International Holdings, marking Reliance's entry into global toy retailing.

Founded in London in 1760, Hamleys is recognized as one of the world's oldest toy retailers, famed for its flagship store located on Regent Street in London. Prior to the 2019 acquisition, Reliance Retail had already established a operational footprint for the brand in India, managing stores under a master franchise arrangement that began in 2008.

At the time of the 2019 acquisition, Hamleys operated 167 stores across 18 countries globally, while Reliance Retail managed 88 stores spread across 29 cities in India.

"The dissolution of a step-down subsidiary with a nil net worth is a routine corporate housekeeping measure. Large conglomerates frequently restructure their international holdings to optimize operations and streamline their corporate architecture. Even though Hamleys remains a globally recognized retail brand, closing an inactive or non-contributory franchise unit like HFL allows the parent company to allocate resources more efficiently without impacting core retail business operations." — Dr. Shishir Gupta, Founder & CEO, StartupLanes