Rick Moranis will return in Honey I Shrunk the Kids reboot Shrunk

It's a nostalgic week for those of a certain vintage – namely, those born in the mid-to-late 1980s. Not only are we presented with the big screen debut of Sonic the Hedgehog (on release from the 14th of February), but news has come in about a reboot of Honey, I Shrunk the Kids.

Released in 1989, this high-concept, live-action Disney comedy is the story of a group of children who are accidentally miniaturised and cast into the deadly jungle of their back yard. The film stars Rick Moranis (of Ghostbusters and Spaceballs fame) as accident-prone inventor Wayne Salinski – and joy of joys, the actor has been wrenched out of retirement to appear in reboot movie, Shrunk.

Honey, I Shrunk the Kids already had two sequels: 1991's little-loved Honey, I Blew Up The Kid, and 1997's straight-to-video offering Honey We Shrunk Ourselves. Deadline confirms the involvement of Moranis in Shrunk – the actor has been unofficially retired from acting for 23 years, and couldn't even be coaxed into appearing in Paul Feig's Ghostbusters reboot in 2016. And Frozen's Josh Gad has also been enlisted, rumoured to be playing the older incarnation of Wayne's son Nick, originally played by Robert Oliveri.

On its initial release, Honey, I Shrunk the Kids was a commercial success, grossing $222 million worldwide against a $17 million budget. It was an early hit for special effects artist turned helmer Joe Johnston, who would later go on to direct the likes of The Rocketeer and Captain America: The First Avenger. The movie also won a BAFTA for Best Special Visual Effects, and is warmly regarded by those of a certain generation, epitomising the kind of imaginative, broad-strokes family filmmaking that was in vogue at the time.

Set-pieces that have stuck in the minds of many include a garden ant that's adopted as a pet (which reaches a suitably heart-rending conclusion), and an attack by a fly-mo lawnmower, not to mention the aerial bumblebee bombardment that spawned a Walt Disney World adventure named after the movie.

Johnston is said to be returning for Shrunk, although no release date is confirmed as yet. Excited? Let us know @Cineworld.