'Dragons Den' star Theo Paphitis interested in buying HMV?

Buisinessman hints at possible U-turn over retailer

'Dragons Den' star Theo Paphitis interested in buying HMV?

Photo: PA

Businessman Theo Paphitis, star of BBC's Dragons Den, is reportedly interested in buying HMV.

Earlier this month (January 15), Paphitis - who is chairman of high street stationers Ryman and hardware store Robert Dyas – had suggested that he had no interest in the ailing entertainment retailer, after he claimed on Twitter that it had "no reason to exist anymore".

But according to the Daily Mail, the 'Dragon' is now interested in buying the chain, which went into administration earlier this month (January 16), as well as other recently collapsed retailers Jessops and Blockbuster. They also claim that HMV has sent out information out to 20 parties potentially interested in investing and expects to receive offers by the end of this week.

Paphitis said: "My interest for HMV harks from an era that thinks, 'What a great brand. Often I have looked at things and thought 'Is there something there?'"

He continued: "Also I could put a Dyas or Ryman in some of its stores, and am also talking to the administrator of Jessops where I have identified some shops, as well as Blockbuster," he added.

Earlier this week (January 24), it was reported that a large number of HMV stores across the UK could be turned into supermarkets. HMV was recently handed a lifeline, meanwhile, when debt restructuring specialists Hilco bought the high street retailers' £176m debt for £40m.

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