KPMG receives ‘number of offers’ for HMV as future hangs in balance

KPMG receives ‘number of offers’ for HMV as future hangs in balance

A “number of offers” have been made to buy HMV after the retailer went into administration for a second time, KPMG has confirmed. 

Administrators from KPMG were appointed over Christmas to help the firm, which employs approximately 2,000 permanent staff, find a buyer or wind up the business with interested parties given until Tuesday 15th January to submit their bids

KPMG is now “evaluating” the bids after receiving a “number of offers on various bases” as HMV’s 128 shops, including nine which operate under the Fopp brand, remain open. 

Will Wright, partner at KPMG and joint administrator of HMV, said: “Since our appointment as joint administrators, we have received significant support from key stakeholders, including employees, suppliers and creditors, as we have endeavoured to trade the HMV business. We’d like to thank everyone for their support during this time, in what remain challenging circumstances.

“We can confirm that a number of offers on various bases have been received, and we now need to evaluate these further over the coming days. Given the commercially sensitive nature of this process, we will not be providing further detail at this time. We will continue to endeavour to trade all stores while discussions with all the relevant stakeholders continue.”

The bids come after KPMG told The Bookseller administrators are in “ongoing” talks with book suppliers to HMV with book sales representing approximately 2% of HMV’s £254m revenues in the year to date.