Could HMV be saved after all?

“We can confirm that a number of offers on various bases have been received."

It seems that HMV could be handed a lifeline, after it was confirmed that several bids for the UK’s largest high street music retailer have been received.

The deadline for bids expired yesterday (January 15) and joint administrator Will Wright has now confirmed that several offers have been tabled – heightening hopes of an eventual rescue for the iconic music chain in the UK after it fell into administration in December 2018.

“Since our appointment as joint administrators, we have received significant support from key stakeholders, including employees, suppliers and creditors, as we have endeavoured to trade the HMV business,” confirmed Wright.

“We’d like to thank everyone for their support during this time, in what remain challenging circumstances.

“We can confirm that a number of offers on various bases have been received, and we now need to evaluate these further over the coming days,” he added. “Given the commercially sensitive nature of this process, we will not be providing further detail at this time. We will continue to endeavour to trade all stores while discussions with all the relevant stakeholders continue.”

HMV went into administration late last year

Although the identity of the bidders is yet to be confirmed, discount chain BuyVia previously confirmed their interest – but a bid ultimately collapsed when it emerged that they had not contacted the administrators.

According to MusicWeek, others firms believed to be in the running include French retail chain Fnac and divisive Sports Direct owner Mike Ashley – who has previously got involved with ailing chains such as House Of Fraser and Debenhams.

But an Amazon shaped spanner could also be thrown in the works, amid rumours that the online giant is eyeing up the music chain.

In 2017, HMV Canada closed all 102 of its stores in the country after the retailer went into receivership.

The Canadian branch of the music and entertainment retailer – which opened its first store in the country in 1986 – was sold by HMV to retail restructuring specialist Hilco in 2011, after which it operated as an independent company from HMV in the UK.