Mon, 21 Jan 2013 | ADMINISTRATION
The retailer Game has confirmed its intentions to buy some or all of HMV.
HMV entered administration earlier this month after struggling to adapt to the new internet-dominated trading environment.
Around 50 separate groups are now thought to have expressed an interest in purchasing part or all of the business, of which Game is one.
HMV has a total of 223 UK stores and a workforce of 4,000, so the direction it takes in the future will have a notable impact on the British high street.
Game itself only exited administration last year so its new plans for expansion suggest that its fortunes are looking up.
Deloitte, administrators for HMV, have said that retail restructuring firm Hilco, which owns HMV Canada, is also interested in making a bid for HMV's assets or business.
The news comes as DVD rental firm Blockbuster, which also entered administration this month, announced that it is to close 129 more stores, following the initial closure of 31 shops. The business has a total of 528 stores.
Lee Manning, joint administrator of Blockbuster from Deloitte, commented: “Having reviewed the portfolio with management, the store closure plan is an inevitable consequence of having to restructure the company to a profitable core which is capable of being sold.
“We would like to thank the company's employees for their support and professionalism during this difficult time. We are also grateful to the customers for their continued support.”
Specialises in new-build and refurbishment, reliable 24-hour reactive maintenance and planned preventive maintenance. Strong second-tier management team in place, able to manage the business day-to-day, and also efficiently grow and develop the comp...
The company is a full-service creative agency that provides end-to-end solutions for global brands. Established in 2020 and rebranded in 2022, the agency specialises in creative strategy, media production, and post-production. The company is at the f...
The company offers the standard range of vehicle repair services, including Class 4, Class 5 and Class 7 MOTs, servicing, tyre fitting, and diagnostics.The garage has been a trusted name in the North Wales vehicle repairs market since its establishme...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.