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Asda could be buying up whole of HMV

While it was initially thought that HMV Canada owner Hilco was the most likely to buy up HMV, it has so far only purchased the firm’s major debt, leaving its future still up in the air. Now though, a new report is suggesting that Walmart owned supermarket, Asda, could be in line to take over.

This report does from the Sun, so it may be wise to take it with a pinch of salt, but it’s being reported that Asda is in the running for a buyout, but it’ll need to make a solid offer within the next two weeks, as that’s when HMV’s big rent bill is due.

Not everyone is quite convinced that there is a bidding war going on for HMV however. Previous head of GAME, Ian Sheperd pointed the finger at Deloitte, saying via Twitter:

Still, if HMV was bought up by Asda, it could change the face of high street game sales. Either, Asda could just dump millions into the chain, since it easily has the capital to do so, or it could perhaps bring some HMV stores inside the Asda supermarket. This would lend a bit of legitimacy to what is normally a somewhat shunned entertainment section in stores like that.

KitGuru Says: Whether it’s Hilco or Asda, one of them needs to do something, as we’re only a couple of weeks away from the big deadline that could see HMV go under. That said, I can’t see Hilco wasting its debt buying investment, can you?

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