Ashley in line to swoop for stricken retailer, say reports

Sports Direct boss Mike Ashley could save stricken retailer HMV, according to reports.

SKy News says the owner of the Shirebrook-based giant has held talks with supplier to HMV with a view to tabling a last-minute bid for the entertainment retailer.

Sky News say that it understands that Ashley wants to add HMV to his retail empire and will look to merge it with Game Digital (in which he holds a significant share) if the deal goes through.

KPMG has been tasked with finding a buyer for HMV, which collapsed into administration just three days after Christmas.

It is unclear whether Ashley has made the bid through Sports Direct or another of his vehicles, said Sky News.

Ashley recently bought House of Fraser and Evans Cycles in a pre-pack deals. The Nottingham branch of House of Fraser is set to close imminently.