Asda might be about to rescue HMV from the fiery pits of administration, with news that the supermarket empire is interested in snapping up the music chain.
Currently in discussions with HMV’s administrators, Asda may be going up against Hilco in the race for the high street megastore. Hilco, which owns HMV Canada, has already bought up HMV’s debt and entered talks for a £50m deal to buy the business itself.
Asda clearly sees a big opportunity in bagging HMV, which still employs 2,400 people across its 120 remaining stores.
Snap it up
Since HMV announced it was going into administration we’ve heard of a few interested parties sniffing around the property, the strangest of all being Game, which itself went into administration for a short period of time just months ago.
If Asda is successful, it will likely bring HMV into its stores in a similar way it did with its Disney concessions last year.