Reliance Industries' UK Hamleys Subsidiary Faces Dissolution As Voluntary Strike-Off Process Begins

Reliance Industries Ltd has disclosed that its UK-based step-down subsidiary, Hamleys (Franchising) Ltd (HFL), is undergoing a voluntary strike-off process that could result in its dissolution by late December 2026.

The development follows a gazette notice issued by the UK's Registrar of Companies concerning the subsidiary's application to be removed from the corporate register.

In a stock exchange filing on Thursday, Oct 29, Reliance said the company would be dissolved unless objections were raised within the prescribed period.

Hamleys UK Subsidiary May Be Dissolved By December

According to the notice, HFL cannot be dissolved earlier than two months after Oct 27, 2026.

Under UK corporate regulations, voluntary strike-off allows companies to close their operations through a formal deregistration process.

The procedure provides creditors and other interested parties an opportunity to object before the company is removed from the register.

Reliance said it received the official intimation at 3.11 pm on Oct 28.

The disclosure was made under Regulation 30 of the Securities and Exchange Board of India's listing regulations.

HFL reported turnover of Rs56.08 crore during calendar year 2025, representing just 0.0048% of Reliance's consolidated turnover for FY2025-26.

The subsidiary's net worth stood at nil as of Dec 31, 2025.

Reliance entered the Hamleys business in 2019 through its fashion and lifestyle subsidiary, Reliance Brands Ltd.

The company acquired Hamleys Global Holdings Ltd from Hong Kong-based C Banner International Holdings in an all-cash transaction valued at £67.96 million.

The acquisition was announced in May 2019 and completed in July that year.

Founded in London in 1760, Hamleys is among the world's oldest toy retailers and is recognised for its flagship store on Regent Street.

The latest regulatory development concerns only the franchising subsidiary.

Reliance has not disclosed the reason for the proposed closure or announced any changes to Hamleys' broader retail operations.

The dissolution remains subject to completion of the statutory process and the absence of objections.