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Sports Direct tycoon Ashley considering bid for HMV

HMV

HMV’s store in Princes Street is now a branch of Sports Direct 


 

Sports Direct founder Mike Ashley is considering adding to his growing retail portfolio after lodging a bid to buy music chain HMV which collapsed last month.

The business plunged into its second administration in six years just after Christmas, putting 2,200 jobs at 125 stores at risk.

Mr Ashley, who owns more than 60% of Sports Direct, has acquired the House of Fraser department store chain and Evans Cycles. He also owns stakes in Game Digital, French Connection and Debenhams.

KPMG set a deadline of last Tuesday for bids for the stores, but has not named any bidders. There is said to be no deadline for a decision.

It is thought Mr Ashley may look to combine HMV with Game as a pure entertainment play.

Sources told Sky News – which first reported Ashley’s interest in HMV – that he was serious about buying the music retailer.

He bought HMV’s flagship store in Princes Street, Edinburgh in 2016



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