Ashley in race to buy toy giant Hamleys

BILLIONAIRE Sports Direct owner Mike Ashley is eyeing a swoop on 137-year-old toy seller Hamleys in a bid to expand his retail empire.

Fellow toy chains The Entertainer and Smyths are also understood to have expressed an interest to Hamleys’ Chinese owners, C Banner.

It comes just a day after Ashley, 54, warned November had been the worst on record for the High Street, and attacked Debenhams for refusing a £40m loan he offered in return for a further 10pc stake in the department store. Ashley already owns almost 30pc of Debenhams through Sports Direct, and his firm rescued House of Fraser earlier this year.

But he is unlikely to be a frontrunner to snap up Hamleys unless he can get it for a knockdown price.

C Banner paid £100m for Hamleys three years ago and is understood to have put a £90m price tag on it.

The Hong Kong-listed firm was set to buy House of Fraser before the department chain fell into administration, but walked away following upheaval from landlords.

Formal bids to buy Hamleys are not expected until after Christmas.

The festive period is set to be a crucial one for the retailer after it plunged to a £12m loss in October.