HMV could be saved by Sports Direct CEO Mike Ashley

There’s a chance that HMV might be saved yet again, this time by Sports Direct tycoon Mike Ashley.

According to Sky News, Ashley is in talks with “key music and entertainment industry suppliers to HMV” in the last fortnight in a bid to save the music and tech high street chain.

In the last 6 months, Ashley has bought House of Fraser and Evans Cycles in pre-pack insolvency deals.

Already a significant shareholder in Game Digital, Sky News reports that he could pursue a move to merge it with HMV if he gains control of the music retail chain.

HMV fell into administration days after Christmas day, putting over 2,000 jobs at risk.

The High Court appointed KPMG to run the chain and try to keep all 125 stores open while a buyer is sought.

After the news, consumer association Which? warned those with gift vouchers spend them in-store ASAP. KPMG has said that it will honour gift cards – while stores are still trading.

The second time in 6 years that the retailer has fallen on hard times, HMV first fell into administration in January 2013. Three months later, Hilco signed a deal to see the restructuring firm take on around 141 HMV stores, nine Fopp outlets and around 2,500 employees.

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