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Game Group interested in buying HMV stores - report
January 17, 2013 / 9:17 PM / 5 years ago

Game Group interested in buying HMV stores - report

LONDON (Reuters) - Video games seller Game Group has approached the administrators of HMV about acquiring some of the collapsed music retailer’s stores, Game’s boss told the Financial Times.

The logo of British music retail chain HMV is seen lit above its branch on Oxford Street in London January 14, 2013. REUTERS/Chris Helgren

Martyn Gibbs, the CEO of Game, which itself was bought out of administration by investment firm OpCapita last year, said Game had approached HMV’s administrators Deloitte regarding an interest in an unspecified number of stores.

OpCapita was also the owner of electrical goods company Comet, which shuttered its stores last month after falling into administration less than a year after OpCapita purchased it.

OpCapita could not immediately be reached for comment.

There have been around 50 expressions of interest in HMV, said the Financial Times on its website on Thursday, citing people familiar with the situation.

HMV fell into administration on Monday, its business of selling CDs and DVDs hammered by competition from supermarkets and online retailers.

Interest in the business, which runs 223 stores in Britain, could also come from restructure specialist Hilco, a source said on Tuesday.

Media reports have also named private equity firms Endless and Better Capital and investment firm Oakley Capital as possible suitors.

Reporting by Rosalba O'Brien; Editing by Bernard Orr

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