HMV: to be bought by Game?January 18th, 2013 • 4 Comments
HMV have around 50 ‘expressions of interest’ in buying the chain, including (surprisingly) Game. Martyn Gibbs, the chief executive of Game, said that an approach had been made to the HMV administrators, but wouldn’t say how many stores they wanted to buy.
Gibbs said: “We will constantly review our property portfolio based on what is available. I would not rule out any stores becoming available, be that through an administration or normal property deals.”
Of course, Game went into administration themselves in 2012, but 300 of their stores were bought by OpCapita. However, this could ring alarm bells for some, as OpCapita previously acquired Comet, and look where they are now.
Elsewhere, restructure specialist Hilco, are showing an interest in HMV and it has been reported that private equity firms Endless and Better Capital and investment firm Oakley Capital are also sniffing around the chain.
Trevor Moore, the chief executive of HMV, has said that he is “confident” that HMV will survive in some form, which is good for those looking down the unemployment barrel, but we’ll have to see how it looks should it survive.
OpCrapita keep them away from any UK business as all they do is kill them off one by one whilst making themselves a nice fat pay packet !
Punching a bit above their weight in terms of high street real estate and capital needed I think.
Well it’s only some of their stores, not all of them or indeed the actual business.