HMV bidders believed to include Elliott Advisors; Sunrise Records tipped to bid for shops - report
21 JAN 2019
HMV’s administrators are believed to have received a bid for the UK-based entertainment retailer from hedge fund Elliott Advisors, The Guardian reported, without attributing the information to a source. Elliott was one of the several interested parties to have made offers last week, the report said. It also named Sports Direct International [LON:SPD] boss Mike Ashley as one of the interested parties.
A music retail group based in North America is also understood to have indicated an interest in acquiring some of HMV’s stores, the item reported. A source suggested Canada-based record store chain Sunrise Records as the suitor, the report said, noting that Sunrise acquired around 70 Canadian HMV shops in 2017.
HMV entered administration at the end of last year and is facing collapse without a rescue deal, as previously reported.
The original report appeared in print, page 4