Supermarkets looking to buy up HMV stores - report

Rhian Jones

A number of supermarkets are reportedly looking to convert HMV outlets into convenience stores.

The retailer's administrators Deloitte are said to be looking to sell off up to 230 of the High Street chain’s stores. Morrisons is thought to be considering up to 20 sites with Tesco and Sainsbury's also showing interest.

Restructuring company Hilco acquired the entertainment chain's £120m of debt for £40m on Tuesday, giving it effective control of the company.

However, Hilco is only expected to want about half of HMV's stores and property consultants CBRE and Savills have been brought in to help offload potentially unwanted sites. They are expected to examine offers for the stores in 10 days' time.

Source: Guardian


Tags: HMV

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