Asda is to go head to head with Hilco as the supermarket giant looks to buy HMV.
The grocer has been in talks with administrator Deloitte about putting in a bid for the HMV brand. A City source told The Sun: “Asda has been looking at HMV and it’s not about taking on a few stores to convert into supermarkets. They’ve been looking at taking on the brand – the business.”
Experts tell The Sun that Asda – owned by US firm Wal-Mart – would have to strike a deal for the business within a fortnight, when HMV faces a huge rent bill.
Asda would likely face a battle with retail restructure firm Hilco if it were to swoop for HMV.
The company seized effective control of the retailer upon its collapse and is in talks to buy 130 HMV stores itself.