Asda in talks to acquire HMV – report

Forever dubbed the destroyer of the High Street, could the supermarkets be about to save one of the High Street’s most iconic brands?

The Sun‘s chief business reporter claims this morning that Walmart-owned Asda has entered the bedding race for HMV. It is claimed that talks with administrator Deloitte have already taken place for a deal not just for the HMV brand but to run the remainder of the business as a going concern.

It is also speculated that, if successful, Asda could launch HMV concessions in its stores in much the same way as it has done recently with Disney.

A two-horse race between itself and former frontrunner Hilco is now on the cards – and the pressure is on to get a deal agreed, with the chain’s Q1 rent bill now just two weeks away.

HMV still employs over 2,400 staff across its 120 remaining stores and HQ.