A new twist in the HMV administration story has come today, with rumours that supermarket chain Asda may be looking into snapping up the ailing record stores.
If Asda do wish to pursue the buyout, they’ll now likely have to go up against or enter into talks with Hilco. Hilco owns HMV Canada, which has already bought up HMV’s debt and is looking into buying the business outright in what could be a £50m deal.
Asda join the likes of GAME as interested parties in the HMV brand, despite the fact that GAME themselves narrowly survived an administration a short while ago.
HMV still employs 2,400 people in its remaining 120 stores. It’s expected that Asda would bring the HMV brand into its own stores, selling CDs, DVDs, games and other media as it did with its successful Disney concessions last year.
By Gerald Lynch | March 12th, 2013