X

REGISTER TO CUSTOMIZE
YOUR NEWS AND GET ALERTS
ON your favorite games

Click the box below to confirm you are over 13, not a robot, and agree to our Privacy Policy & Terms and Conditions
No thanks, take me to EGMNOW
X
Customize your news
for instant alerts on
your favorite games
Register below
(it only takes seconds)
Click the box below to confirm you are over 13, not a robot, and agree to our Privacy Policy & Terms and Conditions


X
X


 

U.K. supermarket chain Asda is considering a deal to buy HMV and its stores, according to a new report.

The Sun is reporting that Asda (owned by Walmart) is looking at taking on the entire HMV brand and its remaining stores. A source from the City has told the newspaper that a deal has to be struck within a fortnight for it to happen, this is the deadline for a huge rent bill that HMV owes.

A move like this would give Asda a lot of power in the U.K.’s entertainment sector and would probably result in HMV mini-stores springing up in its supermarkets. At the moment the favorite to take over the business is Hilco, the restructuring company that took on HMV Canada’s debts.

Both Asda and administrator Deloitte refused to comment on the matter.

0   POINTS
0   POINTS


About Matthew Bennett

view all posts

Matt is one of the longest-serving members of the EGMNOW team. An ability to go many hours without sleep and a quick wit make him ideal for his role as associate editor at EGMNOW.com. He often thinks back to the days when the very idea of this career seemed like nothing but an impossible dream. Find him on Twitter @mattyjb89

RUMOR: Asda Interested in Buying HMV Brand and Stores

By Matthew Bennett | 03/12/2013 06:54 AM PT

News

U.K. supermarket chain Asda is considering a deal to buy HMV and its stores, according to a new report.

The Sun is reporting that Asda (owned by Walmart) is looking at taking on the entire HMV brand and its remaining stores. A source from the City has told the newspaper that a deal has to be struck within a fortnight for it to happen, this is the deadline for a huge rent bill that HMV owes.

A move like this would give Asda a lot of power in the U.K.’s entertainment sector and would probably result in HMV mini-stores springing up in its supermarkets. At the moment the favorite to take over the business is Hilco, the restructuring company that took on HMV Canada’s debts.

Both Asda and administrator Deloitte refused to comment on the matter.

0   POINTS
0   POINTS



About Matthew Bennett

view all posts

Matt is one of the longest-serving members of the EGMNOW team. An ability to go many hours without sleep and a quick wit make him ideal for his role as associate editor at EGMNOW.com. He often thinks back to the days when the very idea of this career seemed like nothing but an impossible dream. Find him on Twitter @mattyjb89