Jan 20, 2019

Mike Ashley reportedly in talks to buy music chain HMV

Sports Direct founder Mike Ashley is reportedly in talks to buy music chain HMV. HMV collapsed last month, its second administration in six years, risking 2,200 jobs at 125 stores. Mr Ashley, who owns several high-street retailers has held talks with suppliers of music and entertainment products, Sky News has reported. Mr Ashley owns more than 60% of Sports Direct, and through it he has bought retailers including the House of Fraser department store chain and Evans Cycles. After establishing Sports Direct in 1982, he built his business by buying up well-known names such as Dunlop, Slazenger, outdoor gear specialist Karrimor and the boxing brand Lonsdale. Sports Direct also owns a stake in Game Digital, which Mr Ashley could merge with HMV if he is successful, Sky News said.

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