Sports Direct tycoon ‘in talks to rescue HMV from administration’

Sports Direct tycoon Mike Ashley ‘is in talks to rescue music retailer HMV from administration’ after it collapsed just after Christmas

  • Music chain went into administration for the second time in six years this month 
  • Mike Ashley is ‘serious’ about taking on the retailer, sources have today claimed 
  • It comes after he bought House of Fraser and Evans Cycles in the last six months 

Mike Ashley (pictured) is said to be ‘serious’ about rescuing HMV from administration 

Sports Direct chief Mike Ashley wants to save HMV from administration after the music retailer collapsed this month.

The tycoon has talked with industry suppliers to the chain in the last two weeks in hopes to acquire the business.

The Newcastle United owner hopes to rescue the UK’s last-remaining national music retailer after HMV Retail had to appoint administrators for the second time in six years.

Mr Ashley’s latest bid for the high street comes after he snapped up Evans Cycles and House of Fraser.

Sources told Sky News he is ‘serious’ about adding HMV to the list but it is unclear whether the bid was made through Sports Direct International or another corporation.

Mr Ashley is also a shareholder in Game Digital and may merge it with the music chain should it come under his control. It is understood that Game is not attempting to buy HMV out of administration. 

The retail chain (pictured, its branch at Westfield in Shepherds Bush) has gone into administration for the second time in six years 


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Mike Ashley’s reported HMV bid comes after he also bought Evans Cycles (pictured, the branch in Vauxhall Bridge Road, London)

KPMG has refused to comment on the identity of the people who have launched bids for HMV. 

A handful of potential buyers lodged offers with KPMG ahead of a January 15 deadline. 

   

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