Dozens of potential buyers express interest in HMV

By KRISTY DORSEY
Published on 20/01/2013 00:00

HOPES have risen that high-street chain HMV will survive in some form after dozens of expressions of interest poured in for the music retailer.

Deloitte – which is also administrator to Blockbuster UK, another victim of the digital revolution – is sifting through enquiries from retailers, private equity groups and wealthy individuals.

Administrators have received about 50 initial expressions of interest, though the number of serious bidders will be significantly lower. Even so, a spokeswoman said Deloitte was “very hopeful of finding a buyer for some or all of the business as a going concern”.

“There has been a significant amount of interest – some really positive leads have come in,” she added.

Game, which was bought out of administration last year by OpCapita, confirmed at the end of last week that it has approached Deloitte about buying some of HMV’s 223 stores.

OpCapita put its Comet chain into administration in the run-up to Christmas.

Other potential bidders are said to include private equity firm Endless, the Leeds-based turnaround house specialising in companies facing “challenging” situations. Its retailing 
interests include Bathstore, Homebuy and discount book chain The Works.

Restructuring specialist 
Hilco, Jon Moulton’s Better Capital and Oakley Capital have also been named as 
possible suitors. Hilco owns HMV Canada, and so already has relationships with HMV’s suppliers.