Mike Ashley has reportedly been in talks with HMV’s suppliers in hopes of acquiring the collapsed music and entertainment chain, according to Sky News.
HMV’s parent company HMV Retail called in administrators from KPMG on December 28 for the second time in six years amid, plunging the future of 125 stores and over 2000 jobs into uncertainty.
HMV blamed a “tsunami” of challenges for its failure such as the rising costs of the high street and the decreased number of footfall due to online services such as Netflix, Amazon Prime and Spotify. Meanwhile, Sports Direct tycoon Ashley has expressed his interest in acquiring the music retailer despite the tumble.
Ashley has already acquired House of Fraser and Evans Cycles out of administration, while also being a major shareholder in French Connection and Debenhams.
Earlier this month, news broke that Ashley had ousted Debenhams’ chair Ian Cheshire and chief executive Sergio Bucher from the board.
