HMV bid deadline set for January 15

Several ‘expressions of interest’ received for entertainment retailer.

The fate of HMV could be decided this week, with the administrators having set a January 15 deadline for interested parties to lodge bids.

According to Sky News, KPMG – which was appointed by Hilco, the owner of the entertainment retail chain last month – has received expressions of interest from several credible parties.

The report added that KPMG is ‘working to secure a viable future’ for HMV.

However, some analysts remain sceptical that a binding offer to buy HMV outright will emerge, according to Sky News.

On the day it was appointed, KPMG stated that HMV had suffered from the ‘ongoing wave of digital disruption sweeping across the entertainment industry’, as well as the ongoing pressures faced by many high street retailers.

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