Music chain is currently in administration...
HMV

Sports Direct founder Mike Ashley is reportedly in talks to buy HMV.

The music chain entered administration following a slow festive period, with more than 2000 jobs at risk across the country.

The move also impacted on FOPP, with HMV said to have sold 31% of all physical music in the UK in 2018 and 23% of all DVDs.

The BBC reports that Sports Direct founder Mike Ashley has placed a bid for the historic retail giant.

Mike Ashley is currently adding to his high street portfolio - in addition to owning 60% of Sports Direct, he recently purchased the House of Fraser department store chain and Evans Cycles.

In addition to this Mike Ashley's company also owns stakes in French Connection and Debenhams.

Administrators KPMG declined to comment to the BBC.

In 2016 British MPs accused Mike Ashley of running Sports Direct like a "Victorian workhouse" - his son, Ollie Ashley, founded Radar Radio, which shuttered in 2018.

Join us on Vero, as we get under the skin of global cultural happenings. Follow Clash Magazine as we skip merrily between clubs, concerts, interviews and photo shoots. Get backstage sneak peeks and a true view into our world as the fun and games unfold.

Buy Clash Magazine

-

Follow Clash: